Fantasy sports firms FanDuel and DraftKings consent to combine

18 November 2016

A Scottish tech firm which ended up being a significant gamer in the US fantasy sports market is to merge with its biggest competitor.
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FanDuel, which was established in Edinburgh in 2009, has gone into a merger agreement with DraftKings.

The transaction, which goes through regulative approval, is expected 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.
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DraftKings has its head office in Boston.
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The companies use online dream contests throughout expert sports in the yohaig code US, Canada and the UK.

Cost savings

There are an estimated 57 million dream players in the US alone.
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Both companies have actually been facing regulatory and legal difficulties to their market, with regulators in some US states ruling that fantasy sports firms' activities totaled up to .

In a joint declaration on Friday, the companies stated that by integrating and streamlining resources they might "speed up deal with government authorities to continue to establish a standard regulatory structure".
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They also expect the "tactical merger of equals" to bring effectiveness and expense savings and help the combined company "accelerate its path to success".

FanDuel primary executive Nigel Eccles said: "Being able to integrate DraftKings and FanDuel provides a significant chance for us to further innovate and interfere with the yohaig code sports market.

"While both business have actually achieved much currently, this promotion code transaction will produce a service that can provide a greater variety of offerings, appealing to new users, consisting of the 10s of countless season-long fantasy gamers that haven't yet tried our products."
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