Fantasy sports companies FanDuel and DraftKings concur to merge

18 November 2016

A Scottish tech firm which became a major player in the US dream is to combine with its biggest competitor.
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FanDuel, which was established in Edinburgh in 2009, has actually entered a merger arrangement with DraftKings.

The deal, which undergoes regulative 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 york city several years ago.
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DraftKings has its headquarters in Boston.

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

Cost cost savings

There are an estimated 57 million dream gamers in the US alone.
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Both business have been facing regulatory and legal obstacles to their market, with regulators in some US states ruling that dream sports firms' activities amounted to illegal gaming.

In a joint statement on Friday, the business said that by integrating and streamlining resources they might "accelerate deal with federal government officials to continue to develop a standard regulatory structure".

They likewise expect the "strategic merger of equals" to bring effectiveness and cost savings and assist the combined company "accelerate its course to success".
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FanDuel chief executive Nigel Eccles said: "Having the ability to combine DraftKings and FanDuel presents a significant opportunity for us to even more innovate and disrupt the sports market.
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"While both companies have actually achieved much currently, this promotion code deal will produce an organization that can bet9ja's welcome offer a higher variety of offerings, interesting brand-new users, including the tens of countless season-long fantasy players that have not yet tried our products."

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