Fantasy Sports Firms FanDuel and DraftKings Consent To Merge

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Fantasy sports companies FanDuel and DraftKings consent to combine

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 gone into a merger agreement with DraftKings.

The transaction, which goes through regulative approval, is anticipated to close in the second half of next year.

FanDuel has offices in Edinburgh and Glasgow however moved its headquarters to New york city numerous years back.

DraftKings has its headquarters in Boston.

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

Cost savings

There are an estimated 57 million fantasy players in the US alone.

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

In a joint statement on Friday, the companies stated that by integrating and enhancing resources they might "speed up work with government officials to continue to develop a basic regulatory structure".

They likewise expect the "strategic merger of equals" to bring performances and cost savings and assist the combined business "accelerate its path to success".

FanDuel president Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides a remarkable chance for us to even more innovate and disrupt the yohaig code sports industry.

"While both business have actually accomplished much currently, this promotion code transaction will produce a service that can bet9ja's welcome offer a greater range of offerings, interesting brand-new users, including the 10s of countless season-long fantasy gamers that have not yet attempted our items."

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