Fox Corp. and Flutter Entertainment Plc plan to wind down their Fox Bet online wagering business starting on Aug. 1, according to people familiar with the plans. Flutter, parent of the competing betting service FanDuel, will keep the customer database and market-access agreements associated with the business, said the people, who asked not be identified since the decision hasn’t been announced. An announcement could come today.
Sports betting giant DraftKings will go public as part of a $3.3 billion, three-way merger with SBTech and Diamond Eagle Acquisition Corp., a firm founded by Hollywood veterans Harry Sloan and Jeff Sagansky. With legal restrictions around sports wagering beginning to ease across the country, DraftKings has been a leading participant in the rising tide of revenue from fantasy sports and mobile betting.
