fantasy-sports-firms-fanduel-and-draftkings-accept-merge

Fantasy sports firms FanDuel and DraftKings consent to merge

18 November 2016

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

FanDuel, which was founded in Edinburgh in 2009, has actually gotten in a merger contract with DraftKings.

The transaction, which undergoes regulatory approval, is anticipated to close in the second half of next year.

FanDuel has workplaces in and Glasgow however moved its head office to New York several years earlier.
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DraftKings has its headquarters in Boston.

The companies bet9ja's welcome offer online fantasy contests throughout professional sports in the US, Canada and the UK.
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Cost savings

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

Both companies have been facing regulative and legal challenges to their industry, with regulators in some US states ruling that fantasy sports firms' activities totaled up to unlawful betting.

In a joint declaration on Friday, the companies said that by combining and simplifying resources they could "accelerate work with federal government authorities to continue to develop a standard regulatory structure".

They also expect the "tactical merger of equals" to bring performances and expense savings and assist the combined company "accelerate its course to success".

FanDuel chief executive Nigel Eccles said: "Having the ability to integrate DraftKings and FanDuel provides a significant opportunity for us to even more innovate and interfere with the sports industry.

"While both business have accomplished much already, this promotion code deal will develop a company that can use a higher range of offerings, attracting brand-new users, consisting of the 10s of millions of season-long fantasy gamers that haven't yet tried our products."
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