Fantasy Sports Firms FanDuel and DraftKings Accept Merge

Fantasy sports companies FanDuel and DraftKings consent to combine

18 November 2016

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

FanDuel, which was established in Edinburgh in 2009, has actually gone into a merger arrangement with DraftKings.

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

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FanDuel has offices in Edinburgh and Glasgow however moved its headquarters to New York a number of years back.

DraftKings has its head office in Boston.

The business use online dream contests across professional sports in the US, Canada and the UK.

Cost savings

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

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

In a joint statement on Friday, the companies stated that by integrating and simplifying resources they might "accelerate work with federal government authorities to continue to develop a basic regulatory framework".

They likewise expect the "strategic merger of equals" to bring performances and expense savings and assist the combined company "accelerate its path to success".

FanDuel president Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel presents a significant chance for us to even more innovate and interfere with the sports industry.

"While both companies have accomplished much already, this promotion code deal will develop a company that can provide a greater range of offerings, attracting brand-new users, consisting of the tens of countless season-long fantasy gamers that have not yet attempted our products."

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