Fox Corp. (FOXA) and Flutter Entertainment (PDYPY) plan to wind down their Fox Bet online wagering business starting on August 1 and an announcement could come as soon as July 31, Christopher Palmeri and Gerry Smith of Bloomberg report, citing people familiar with the plans. Flutter will keep the customer database and market-access agreements associated with the business, sources told Bloomberg. Fox will retain rights to the Fox Bet brand and the related Super 6 promotion, and will also will keep its option to acquire an 18.6% stake in FanDuel, the sources added.
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