fantasy-sports-firms-fanduel-and-draftkings-consent-to-merge

Fantasy sports companies FanDuel and DraftKings concur to combine

18 November 2016

A Scottish tech company which ended up being a major player in the US dream sports market is to merge with its most significant competitor.
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FanDuel, which was founded in Edinburgh in 2009, has actually entered a merger agreement with DraftKings.

The deal, which is subject to regulative approval, is expected to close in the 2nd half of next year.

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

DraftKings has its headquarters in Boston.
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The companies use online dream contests across expert sports in the US, Canada and the yohaig code UK.
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Cost cost savings
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There are an estimated 57 million fantasy players in the US alone.

Both business have been facing regulative and legal obstacles to their industry, with regulators in some US states ruling that fantasy sports firms' activities amounted to unlawful betting.

In a joint statement on Friday, the companies stated that by combining and improving resources they could "accelerate deal with government officials to continue to establish a standard regulative structure".

They likewise anticipate the "tactical merger of equals" to bring effectiveness and and help the combined company "accelerate its path to profitability".

FanDuel president Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel presents a tremendous chance for us to even more innovate and disrupt the sports market.
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"While both companies have achieved much already, this promotion code deal will develop a business that can bet9ja's welcome offer a higher variety of offerings, interesting new users, consisting of the 10s of countless season-long fantasy players that have not yet tried our items."

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