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Fantasy sports firms FanDuel and DraftKings concur to merge
18 November 2016
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A Scottish tech company which became a major gamer in the US dream sports market is to combine with its most significant competitor.
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FanDuel, which was established in Edinburgh in 2009, has gone into a merger arrangement with DraftKings.
The deal, which undergoes regulatory approval, is anticipated to close in the second half of next year.
FanDuel has offices in Edinburgh and Glasgow but moved its headquarters to New york city numerous years back.
DraftKings has its headquarters in Boston.
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The companies bet9ja's welcome offer online fantasy contests across professional sports in the yohaig code US, Canada and the UK.
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Cost savings
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There are an approximated 57 million fantasy players in the US alone.
Both companies have actually been facing regulatory and legal difficulties to their industry, with in some US states ruling that dream sports firms' activities amounted to prohibited gambling.
In a joint statement on Friday, the companies stated that by integrating and enhancing resources they could "speed up work with federal government officials to continue to establish a basic regulatory structure".
They also anticipate the "strategic merger of equates to" to bring efficiencies and cost savings and help the yohaig code combined business "accelerate its course to profitability".
FanDuel president Nigel Eccles said: "Having the ability to combine DraftKings and FanDuel presents a remarkable chance for us to even more innovate and disrupt the sports market.
"While both companies have achieved much already, this promotion code deal will produce a company that can use a greater range of offerings, attracting brand-new users, including the 10s of countless season-long dream players that haven't yet attempted our products."
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Fantasy Sports Firms FanDuel and DraftKings Accept Merge
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