fantasy-sports-firms-fanduel-and-draftkings-consent-to-merge

Fantasy sports companies FanDuel and DraftKings agree to merge

18 November 2016
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A Scottish tech company which became a significant player in the US dream sports market is to combine with its biggest competitor.

FanDuel, which was founded in Edinburgh in 2009, has actually gone into a merger arrangement with DraftKings.
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the yohaig code deal, which undergoes regulatory approval, is anticipated to close in the second half of next year.

FanDuel has offices in Edinburgh and Glasgow but moved its headquarters to New years ago.

DraftKings has its head office in Boston.

The companies provide online dream contests throughout professional sports in the US, Canada and the UK.
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Cost cost savings

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

Both business have actually been facing regulatory and legal difficulties to their market, with regulators in some US states ruling that dream sports firms' activities amounted to prohibited betting.
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In a joint statement on Friday, the companies stated that by combining and streamlining resources they might "accelerate deal with federal government officials to continue to establish a basic regulative framework".

They also anticipate the "strategic merger of equals" to bring performances and cost savings and assist the yohaig code combined business "accelerate its path to profitability".

FanDuel president Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel presents a remarkable chance for us to further innovate and disrupt the sports market.

"While both companies have achieved much currently, this promotion code deal will create a service that can use a greater range of offerings, attracting brand-new users, consisting of the yohaig code tens of millions of season-long dream gamers that have not yet attempted our items."

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