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Fantasy sports firms FanDuel and DraftKings concur to combine
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18 November 2016
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A Scottish tech firm which became a significant player in the US dream sports market is to merge with its greatest rival.
FanDuel, which was founded in Edinburgh in 2009, has gone into a merger contract with DraftKings.
The deal, which is subject to regulative approval, is expected to close in the yohaig code second half of next year.
FanDuel has offices in Edinburgh and Glasgow but moved its headquarters to New York several years earlier.
DraftKings has its headquarters in Boston.
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The business use online fantasy contests across professional sports in the US, Canada and the UK.
Cost savings
There are an estimated 57 million dream gamers in the US alone.
Both business have actually been dealing with regulatory and legal challenges to their market, with regulators in some US states ruling that fantasy sports firms' activities totaled up to prohibited gaming.
In a joint declaration on Friday, the business stated that by integrating and simplifying resources they might "speed up work with government authorities to continue to develop a basic regulatory framework".
They also anticipate the yohaig code "strategic merger of equates to" to bring performances and expense savings and assist the combined company "accelerate its path to success".
Nigel Eccles stated: "Being able to combine DraftKings and FanDuel provides a tremendous opportunity for us to further innovate and disrupt the sports industry.
"While both business have achieved much currently, this promotion code deal will create a company that can provide a higher range of offerings, attracting brand-new users, including the tens of millions of season-long fantasy gamers that haven't yet attempted our products."
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Fantasy Sports Firms FanDuel and DraftKings Consent To Merge
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