Fantasy sports companies FanDuel and DraftKings consent to merge

18 November 2016

A Scottish tech firm which ended up being a significant player in the US dream sports market is to merge with its biggest rival.

FanDuel, which was established in Edinburgh in 2009, has gone into a merger agreement with DraftKings.
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The transaction, which goes through regulative approval, is anticipated to close in the yohaig code 2nd half of next year.

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

DraftKings has its headquarters in Boston.
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The business bet9ja’s welcome offer online fantasy contests throughout professional sports in the yohaig code US, Canada and the UK.

Cost cost savings

There are an approximated 57 million fantasy gamers in the yohaig code US alone.
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Both companies have actually been facing regulative and legal challenges to their market, with regulators in some US states ruling that fantasy sports companies’ activities totaled up to illegal gaming.

In a joint statement on Friday, the companies said that by combining and simplifying resources they could “accelerate work with government officials to continue to establish a basic regulative framework”.
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They likewise expect the “tactical merger of equates to” to bring efficiencies and cost savings and assist the combined company “accelerate its course to profitability”.

FanDuel primary Eccles said: “Being able to combine DraftKings and FanDuel provides a tremendous opportunity for us to further innovate and interrupt the sports market.

"While both companies have actually achieved much currently, this promotion code transaction will create an organization that can provide a higher variety of offerings, interesting brand-new users, including the 10s of millions of season-long fantasy gamers that have not yet attempted our items.“
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