Fantasy sports companies FanDuel and DraftKings consent to merge
18 November 2016
A Scottish tech firm which ended up being a significant gamer in the US dream sports market is to merge with its greatest competitor.
FanDuel, which was founded in Edinburgh in 2009, has actually entered a merger arrangement with DraftKings.
The transaction, which undergoes regulative approval, is anticipated to close in the 2nd half of next year.
FanDuel has offices in Edinburgh and Glasgow however moved its headquarters to New york city several years earlier.
DraftKings has its headquarters in Boston.
The business use online fantasy contests throughout professional sports in the yohaig code US, Canada and the UK.
Cost savings
There are an estimated 57 million dream players in the US alone.
Both business have actually been dealing with regulative and legal difficulties to their market, with regulators in some US states ruling that fantasy sports companies' activities amounted to unlawful gambling.
In a joint statement on Friday, the business said that by combining and improving resources they could "accelerate work with federal government authorities to continue to establish a standard regulative structure".
They also expect the "tactical merger of equals" to bring effectiveness and expense savings and assist the combined company "accelerate its course to success".
FanDuel president Nigel Eccles said: "Being able to combine DraftKings and FanDuel provides a tremendous opportunity for us to even more innovate and interfere with the sports market.
"While both companies have actually accomplished much currently, this promotion code transaction will create a business that can bet9ja's welcome offer a higher variety of offerings, appealing to brand-new users, consisting of the tens of millions of season-long dream players that have not yet tried our products."
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