Monkey Knife Fight, a pioneer in the daily fantasy sports (DFS) space, announced plans to shutter the company after five on Tuesday. The company shared the news with a post on its Twitter page:
We’re gonna miss you ❤️
Drop your favorite MKF memory in the comments 😢 pic.twitter.com/HwVl3qslZh
— Monkey Knife Fight (@mkf) February 28, 2023
Bally’s, the media corporation that took over local broadcasters then known as Fox Sports Networks, purchased Monkey Knife Fight for about $90 million in 2021. The corporation had hoped to convert the site’s user base to its other gambling products.
However, MKF’s revenue dipped after the purchase. The site reported net revenue of $4.7 million in 2022, or a 36% year-over-year decline. Bally’s attempted to sell the DFS site after the news about its losses came out. A deal to keep the site active couldn’t be reached, so Bally’s has decided to shut the site down.
Monkey Knife Fight helped engineer the hybridization of player props, parlays and DFS, something that PrizePicks, No House Advantage and Underdog Fantasy continue to do. Current MKF users can find similar offerings at those sites and on sportsbooks.
