Fantasy sports companies FanDuel and DraftKings concur to merge
bit.ly
18 November 2016

A Scottish tech company which ended up being a major player in the yohaig code US market is to combine with its biggest competitor.
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FanDuel, which was founded in Edinburgh in 2009, has actually gotten in a merger contract with DraftKings.

The deal, which is subject to regulative approval, is anticipated to close in the 2nd half of next year.

FanDuel has workplaces in Edinburgh and Glasgow however moved its headquarters to New York several years ago.

DraftKings has its headquarters in Boston.

The business use online fantasy contests throughout professional sports in the US, Canada and the UK.
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Cost cost savings

There are an approximated 57 million dream players in the US alone.

Both companies have been dealing with regulative and legal difficulties to their market, with regulators in some US states ruling that fantasy sports companies' activities amounted to prohibited gambling.

In a joint declaration on Friday, the companies stated that by integrating and improving resources they could "accelerate deal with federal government officials to continue to develop a basic regulatory structure".
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They also anticipate the "strategic merger of equals" to bring effectiveness and expense savings and assist the combined company "accelerate its path to success".

FanDuel president Nigel Eccles stated: "Having the ability to combine DraftKings and FanDuel presents a tremendous opportunity for us to further innovate and interrupt the sports industry.
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"While both companies have actually accomplished much already, this deal will develop an organization that can bet9ja's welcome offer a higher variety of offerings, attracting new users, including the 10s of countless season-long fantasy players that have not yet tried our products."

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