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Fantasy sports companies FanDuel and DraftKings consent to merge

18 November 2016

A Scottish tech firm which became a major player in the US dream sports market is to combine with its biggest competitor.

FanDuel, which was established in Edinburgh in 2009, has gone into a merger agreement 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 however moved its head office to New York a number of years back.

DraftKings has its headquarters in Boston.

The business provide online fantasy contests across expert sports in the yohaig code US, Canada and the UK.

Cost savings

There are an estimated 57 million in the US alone.

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

In a joint declaration on Friday, the business said that by combining and enhancing resources they might "accelerate deal with government authorities to continue to develop a basic regulative framework".

They also anticipate the "strategic merger of equates to" to bring performances and cost savings and assist the combined company "accelerate its course to profitability".

FanDuel president Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel presents an incredible opportunity for us to further innovate and disrupt the sports industry.

"While both companies have actually accomplished much currently, this promotion code deal will create a service that can bet9ja's welcome offer a higher range of offerings, appealing to new users, consisting of the tens of millions of season-long dream players that have not yet attempted our products."

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