Internet fantasy sports betting firm DraftKings has announced that the $250 million investment placed in it by the Walt Disney Company is off, although no reason for the abandonment has been given.
Although the investment deal is off, it appears that DraftKings will retain its three year advertising deal with Disney's sports subsidiary ESPN. While no details on the deal falling through have been given, it appears that Disney may have been concerned with the fact that daily fantasy sports is associated with gambling, a practice that the entertainment giant does not endorse. Previously Disney had revealed that it planned to end the Marvel contract with Playtech in which the company develops slot machines depicting the comic book heroes.
Casino Listings will update this story as more developments arise.