Fantasy sports companies FanDuel and DraftKings consent to combine

18 November 2016

A Scottish tech company which became a significant gamer in the yohaig code US fantasy sports market is to merge with its greatest competitor.

FanDuel, which was established in in 2009, has actually entered a merger arrangement with DraftKings.

The deal, which goes through regulatory approval, is anticipated to close in the second half of next year.

FanDuel has workplaces in Edinburgh and Glasgow however moved its head office to New york city several years earlier.

DraftKings has its head office in Boston.

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

Cost savings

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

Both companies have actually been facing regulatory and legal obstacles to their industry, with regulators in some US states ruling that fantasy sports firms' activities amounted to illegal betting.

In a joint declaration on Friday, the companies stated that by integrating and streamlining resources they could "speed up deal with government officials to continue to develop a basic regulative structure".

They also anticipate the "strategic merger of equals" to bring efficiencies and cost savings and help the yohaig code combined company "accelerate its course to profitability".

FanDuel president Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides an incredible opportunity for us to even more innovate and interfere with the sports industry.

"While both business have accomplished much currently, this promotion code deal will produce a service that can provide a higher range of offerings, interesting brand-new users, including the tens of countless season-long dream gamers that have not yet tried our products."

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