Fantasy sports firms FanDuel and DraftKings consent to combine

18 November 2016

A Scottish tech company which became a major player in the US fantasy sports market is to merge with its .
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FanDuel, which was established in Edinburgh in 2009, has actually entered a merger agreement with DraftKings.

The deal, which undergoes regulatory approval, is expected to close in the second half of next year.
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FanDuel has workplaces in Edinburgh and Glasgow however moved its head office to New york city several years ago.
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DraftKings has its headquarters in Boston.

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

Cost cost savings
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There are an approximated 57 million fantasy players in the US alone.

Both business have been facing regulatory and legal challenges to their industry, with regulators in some US states ruling that dream sports companies' activities amounted to unlawful gambling.

In a joint statement on Friday, the companies stated that by combining and improving resources they could "accelerate work with federal government officials to continue to establish a basic regulatory framework".
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They also expect the "strategic merger of equals" to bring effectiveness and cost savings and help the combined company "accelerate its path to success".

FanDuel president Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides an incredible chance for us to even more innovate and interrupt the sports industry.

"While both companies have actually achieved much already, this transaction will create a company that can use a higher variety of offerings, attracting brand-new users, consisting of the tens of countless season-long dream gamers that have not yet attempted our items."

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