Daily Fantasy Sports Provider Plans To Raise More Capital

FanDuel looks to raise $100 million to boost marketing and player acquisition

Unconfirmed reports from the business publication Fortune this week claim that one of the leaders in the daily fantasy sports sector, FanDuel, is considering a fresh round of financing through a sale of shares in order to raise at least $100 million.

The new capital will be devoted to marketing and player acquisition to cement the company's leadership in the sector prior to an IPO in 2016, sources claim.

FanDuel claims it has paid out an average of $10 million in winnings per day. The company offers one-day or – in the case of football – one-week fantasy contests as opposed to the season long commitments previously offered by big name firms like ESPN, Yahoo and CBS Sports.

The first ever DFS conference is scheduled for Miami Beach the first week in August.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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