On Tuesday, Bally’s shuttered Monkey Knife Fight a little more than two years after paying $90 million for the fantasy sports platform — a deal that will go down as one of the bigger corporate missteps in legalized gambling history.
Founded in 2018 by Bill Asher, the company quickly became the third most popular daily fantasy sports site behind FanDuel and DraftKings. Instead of a salary cap-style game, contestants played “against the house” and would choose over/under combinations in an effort to win money.
Monkey Knife Fight was legal in 37 states at the time of the Bally’s purchase, and the gaming company was bullish on the DFS site’s future.
