Skellig Gra
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Two major daily fantasy sports sites, DraftKings Inc. and FanDuel Inc., said they have agreed to set aside years of bitter rivalry and become one as they face down continuing regulatory and legal challenges to their industry.
The two companies, which together spent upward of $500 million on advertising last year to try to build unique brands, had been talking about merging for months, with those talks accelerating in the last few weeks.
Neither company has figured out a business plan to become profitable. They both cut back significantly on advertising during the current football season as legal and lobbying bills have stacked up, painting a bleak financial picture, according to insiders and analysts.
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