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Fantasy sports firms FanDuel and DraftKings consent to combine
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18 November 2016
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A Scottish tech company which became a major player in the US fantasy sports market is to merge with its biggest rival.

FanDuel, which was established in Edinburgh in 2009, has gotten in a merger arrangement with DraftKings.
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The deal, which is subject to regulatory 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 numerous years back.

DraftKings has its headquarters in Boston.

The business provide online fantasy contests throughout professional sports in the US, Canada and the UK.

Cost savings

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

Both companies have actually been dealing with regulatory and legal difficulties to their market, with regulators in some US states ruling that dream sports firms' activities amounted to illegal betting.

In a joint statement on Friday, the business said that by integrating and streamlining resources they might "speed up deal with federal government authorities to continue to establish a standard regulatory framework".

They also expect the yohaig code "strategic merger of equates to" to bring performances and expense savings and help the combined business "accelerate its course to success".

FanDuel chief executive Nigel Eccles said: "Being able to combine DraftKings and FanDuel provides an incredible opportunity for us to even more innovate and interfere with the sports industry.

"While both have actually accomplished much currently, this promotion code deal will produce a business that can use a higher range of offerings, attracting brand-new users, consisting of the yohaig code 10s of millions of season-long dream gamers that haven't yet tried our products."

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