Fantasy Sports Firms FanDuel and DraftKings Agree To Merge

Fantasy sports companies FanDuel and DraftKings consent to combine

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18 November 2016

A Scottish tech firm which ended up being a major player in the US dream sports market is to merge with its greatest rival.

FanDuel, which was established in Edinburgh in 2009, has actually gone into a merger contract with DraftKings.

The deal, which goes through regulative 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 a number of years ago.

DraftKings has its head office in Boston.

The companies offer online dream contests throughout 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 companies have been facing regulative and legal challenges to their industry, with regulators in some US states ruling that fantasy sports firms' activities totaled up to prohibited gaming.

In a joint statement on Friday, the yohaig code companies said that by combining and simplifying resources they might "speed up work with federal government officials to continue to establish a standard regulative framework".

They also anticipate the "tactical merger of equates to" to bring performances and expense savings and help the combined business "accelerate its course to profitability".

FanDuel chief executive Nigel Eccles said: "Having the ability to combine DraftKings and FanDuel provides a significant chance for us to further innovate and interrupt the sports market.

"While both companies have achieved much currently, this promotion code transaction will create a company that can provide a higher variety of offerings, interesting brand-new users, consisting of the tens of countless season-long fantasy players that have not yet tried our items."