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Fantasy Sports Firms FanDuel and DraftKings Agree To Merge

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작성자 Waldo Pierson
댓글 0건 조회 2회 작성일 25-10-19 01:18

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Fantasy sports firms FanDuel and DraftKings consent to combine

18 November 2016

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

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

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

FanDuel has offices in Edinburgh and Glasgow but moved its head office to New York several years ago.

DraftKings has its head office in Boston.

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

Cost savings

There are an approximated 57 million fantasy players in the US alone.

Both companies have been dealing with regulatory and legal obstacles to their industry, with regulators in some US states ruling that fantasy sports companies' activities amounted to unlawful betting.

In a joint declaration on Friday, the companies said that by integrating and simplifying resources they might "accelerate work with government officials to continue to establish a standard regulatory framework".

They likewise anticipate the "strategic merger of equates to" to bring effectiveness and expense savings and help the combined business "accelerate its course to success".

FanDuel primary executive Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides a tremendous opportunity for us to further innovate and disrupt the sports industry.

"While both companies have actually accomplished much currently, this promotion code transaction will develop a service that can a greater variety of offerings, interesting brand-new users, including the 10s of millions of season-long dream gamers that have not yet tried our products."

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