Daily Fantasy Industry Leaders Reportedly Close to Merger

According to multiple media reports, the two leading operators in the Daily Fantasy Sports industry, DraftKings and FanDuel, are in advanced merger talks.

News about the possible merger came shortly after the office of New York Attorney General Eric Schneiderman revealed, that DraftKings and FanDuel had agreed to each pay $6 million over deceptive advertising claims.

In addition to paying a hefty fine, the settlement requires that both companies set up a website that provides information about the percentage of winnings captured by the top one, five and 10 percent of players.

While both companies have declined to comment the rumors so far, multiple sources with knowledge of the discussions have said that the two companies are finalizing terms of a merger.

Many former online poker players have made a successful transition to daily fantasy sports. For example, Aaron "aejones" Jones, took down earlier this year a $5 million top prize after winning the Fantasy Football World Championship.