Fantasy Sports Firms FanDuel and DraftKings Agree To Merge

Fantasy sports companies FanDuel and DraftKings accept combine

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18 November 2016

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

FanDuel, which was founded in Edinburgh in 2009, has gotten in a merger arrangement with DraftKings.

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

FanDuel has offices in Edinburgh and Glasgow however moved its headquarters to New york city a number of years back.

DraftKings has its head office in Boston.

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

Cost savings

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

Both business have actually been dealing with regulative and legal obstacles to their industry, with regulators in some US states ruling that dream sports companies' activities totaled up to prohibited betting.

In a joint declaration on Friday, the business stated that by integrating and simplifying resources they might "accelerate work with government authorities to continue to develop a basic regulative structure".

They also anticipate the "tactical merger of equals" to bring efficiencies and cost savings and assist the yohaig code combined company "accelerate its path to success".

FanDuel president Nigel Eccles said: "Being able to combine DraftKings and FanDuel provides an incredible opportunity for us to further innovate and disrupt the sports market.

"While both companies have actually achieved much currently, this promotion code deal will produce a business that can provide a greater range of offerings, appealing to new users, consisting of the 10s of countless season-long fantasy gamers that haven't yet tried our products."

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