Fantasy sports firms FanDuel and DraftKings consent to combine
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18 November 2016

A Scottish tech firm which became a major player in the US fantasy sports market is to combine with its most significant rival.

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

The deal, which goes through regulative approval, is expected to close in the 2nd half of next year.
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FanDuel has workplaces in Edinburgh and Glasgow however moved its headquarters to New York several years back.

DraftKings has its headquarters in Boston.
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The companies use online dream contests across professional sports in the US, Canada and the UK.
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Cost savings

There are an estimated 57 million dream gamers in the US alone.

Both business have actually been dealing with regulative and legal difficulties to their industry, with regulators in some US states ruling that fantasy sports companies' activities totaled up to illegal gaming.

In a on Friday, the companies said that by combining and simplifying resources they could "accelerate work with government authorities to continue to develop a standard regulatory framework".
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They likewise anticipate the yohaig code "tactical merger of equals" to bring efficiencies and cost savings and assist the combined company "accelerate its course to success".

FanDuel chief executive Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel presents a tremendous opportunity for us to even more innovate and interrupt the sports industry.

"While both companies have accomplished much already, this promotion code transaction will develop a service that can provide a higher range of offerings, interesting brand-new users, including the 10s of millions of season-long dream players that have not yet tried our items."

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