Fantasy sports firms FanDuel and DraftKings accept combine

18 November 2016
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A Scottish tech firm which became a major gamer in the US dream sports market is to merge with its biggest competitor.
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FanDuel, which was founded in Edinburgh in 2009, has gotten in a merger agreement with .

The transaction, which is subject to regulatory approval, is expected 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 back.
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DraftKings has its headquarters in Boston.
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The companies use online fantasy contests throughout professional sports in the US, Canada and the UK.

Cost savings

There are an estimated 57 million dream gamers 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 gaming.
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In a joint statement on Friday, the yohaig code business stated that by integrating and improving resources they could "speed up work with federal government authorities to continue to develop a basic regulative structure".

They also expect the "tactical merger of equates to" to bring effectiveness and cost savings and assist the yohaig code combined business "accelerate its course to profitability".

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

"While both business have actually achieved much currently, this transaction will develop an organization that can provide a higher variety of offerings, attracting new users, consisting of the 10s of countless season-long fantasy players that have not yet attempted our items."
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