NEW YORK, NY - Fantasy sports giants DraftKings and FanDuel rose to business superstardom in part by insinuating that you could strike it rich by playing their games but now there`s only one little problem; the money appears to have run out.
According to the New York Times both companies are months behind on payments to vendors. The financial difficulties were brought to light in recent negotiations for a false advertising settlement in New York in which the two companies have agreed to pay up to $12 million. Even though it`s a relatively small settlement both companies have apparently asked to pay it in installments.
Due to their financial hardships it`s being reported that the companies are looking to merge as soon as possible. Until then if you have any winnings stashed away in either DraftKings or FanDuel might be a good time to cash out.