Fantasy sports companies FanDuel and DraftKings consent to merge

18 November 2016

A Scottish tech firm which ended up being a major gamer in the US fantasy sports market is to combine with its most significant competitor.

FanDuel, which was founded in Edinburgh in 2009, has actually gone into a merger contract with DraftKings.
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The deal, which is subject to regulative approval, is anticipated to close in the second half of next year.

FanDuel has workplaces in Edinburgh and but moved its headquarters to New york city numerous years back.
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DraftKings has its headquarters in Boston.

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

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

Both business 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 prohibited gambling.
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In a joint statement on Friday, the business said that by combining and simplifying resources they might "speed up deal with federal government officials to continue to establish a standard regulative structure".

They likewise anticipate the "strategic merger of equates to" to bring effectiveness and cost savings and assist the combined business "accelerate its course to profitability".
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FanDuel president Nigel Eccles said: "Being able to combine DraftKings and FanDuel provides a tremendous chance for us to even more innovate and interfere with the sports market.

"While both companies have accomplished much currently, this promotion code deal will develop a business that can provide a greater variety of offerings, appealing to new users, consisting of the tens of millions of season-long fantasy players that have not yet tried our items."
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