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US – Fantasy Draft buys Fantasy Aces as DFS consolidation continues

By - 30 January 2017

The consolidation of the daily fantasy sports market has continued with Fantasy Draft buying another fantasy spots website, Fantasy Aces.

The two companies were vying for third position in the DFS market.

Fantasy Aces Daily Fantasy Sports Corp, a Daily Fantasy Sport (DFS) enterprise with operations in Southern California, has entered into an agreement with Fantasy Draft LLC (www.fantasydraft.com) to purchase certain assets of Fantasy Aces including the Fantasy Aces player base and their respective account balances.

As the new home for Fantasy Aces players, FantasyDraft offers an elite platform, first class customer support and a full range of contest offerings consistent with those that Fantasy Aces has been noted for within the Daily Fantasy Sports industry.

The company also announced that Robert Gates and Thomas Cipolla have resigned as directors of the company, as has Michael Olsen, Chief Financial Officer of the company.

The company’s shares had been halted on the TSX Venture Exchange. The shares will remain halted in accordance with TSX Venture Exchange policies.

With legal costs stacking up against the industry as a whole, the two leading DFS companies DraftKings and FanDuel joined forces rather than continue to compete with one another last year.

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