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Fantasy sports firms FanDuel and DraftKings agree to combine

18 November 2016
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A Scottish tech firm which ended up being a significant player in the US market is to merge with its greatest competitor.

FanDuel, which was established in Edinburgh in 2009, has gone into a merger arrangement with DraftKings.

the yohaig code transaction, which undergoes regulative approval, is expected to close in the second half of next year.

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

The business provide online dream contests across professional sports in the US, Canada and the UK.

Cost savings

There are an estimated 57 million fantasy players in the US alone.
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Both business have actually been dealing with regulative and legal difficulties to their market, with regulators in some US states ruling that fantasy sports companies' activities amounted to unlawful gambling.

In a joint declaration on Friday, the companies said that by integrating and simplifying resources they could "accelerate deal with federal government officials to continue to establish a standard regulatory framework".
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They likewise expect the "tactical merger of equates to" to bring effectiveness and expense savings and assist the combined business "accelerate its course to success".

FanDuel president Nigel Eccles said: "Having the ability to combine DraftKings and FanDuel provides a tremendous chance for us to further innovate and interfere with the sports industry.

"While both companies have actually achieved much currently, this promotion code transaction will develop an organization that can provide a higher variety of offerings, attracting new users, consisting of the tens of millions of season-long dream players that have not yet attempted our items."
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