Fantasy Sports Firms FanDuel and DraftKings Consent To Merge

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Fantasy sports firms FanDuel and DraftKings concur to merge

18 November 2016

A Scottish tech firm which became a major gamer in the US fantasy sports market is to merge with its greatest rival.

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

The transaction, which undergoes regulatory approval, is anticipated to close in the 2nd half of next year.

FanDuel has offices in Edinburgh and Glasgow however moved its head office to New york city a number of years ago.

DraftKings has its headquarters in Boston.

The business bet9ja's welcome offer online fantasy contests across professional sports in the US, Canada and the UK.

Cost savings

There are an approximated 57 million dream players in the yohaig code US alone.

Both companies have actually been facing regulatory and legal difficulties to their industry, with regulators in some US states ruling that dream sports firms' activities totaled up to illegal betting.

In a joint declaration on Friday, the companies said that by combining and improving resources they might "accelerate deal with federal government officials to continue to develop a basic regulatory structure".

They also expect the "tactical merger of equals" to bring efficiencies and expense savings and help the combined company "accelerate its path to profitability".

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

"While both companies have actually accomplished much already, this promotion code deal will create a service that can bet9ja's welcome offer a greater range of offerings, appealing to brand-new users, including the tens of countless season-long fantasy gamers that have not yet tried our items."

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