Fantasy Sports Firms FanDuel and DraftKings Agree To Merge

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Fantasy sports firms FanDuel and DraftKings accept merge

18 November 2016

A Scottish tech firm which became a major gamer in the US dream sports market is to merge with its most significant competitor.

FanDuel, which was founded in Edinburgh in 2009, has actually gotten in a merger contract with DraftKings.

The deal, which is subject to regulative approval, is expected to close in the second half of next year.

FanDuel has workplaces in Edinburgh and Glasgow but moved its headquarters to New York a number of years earlier.

DraftKings has its headquarters in Boston.

The companies provide online dream contests across expert sports in the US, Canada and the yohaig code UK.

Cost savings

There are an approximated 57 million fantasy gamers in the US alone.

Both business have actually been dealing with regulatory and legal difficulties to their market, with regulators in some US states ruling that dream sports firms' activities amounted to illegal betting.

In a joint statement on Friday, the business said that by integrating and improving resources they could "speed up work with government authorities to continue to establish a standard regulatory structure".

They likewise expect the "tactical merger of equates to" to bring effectiveness and cost savings and help the combined business "accelerate its course to profitability".

FanDuel primary executive Nigel Eccles said: "Having the ability to combine DraftKings and FanDuel presents a significant opportunity for us to further innovate and interfere with the yohaig code sports market.

"While both business have accomplished much currently, this promotion code deal will create a business that can provide a higher variety of offerings, attracting new users, consisting of the tens of millions of season-long dream gamers that haven't yet attempted our products."