fantasy-sports-firms-fanduel-and-draftkings-consent-to-merge

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Fantasy sports companies FanDuel and DraftKings agree to merge
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18 November 2016
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A Scottish tech firm which became a major player in the US dream sports market is to combine with its greatest competitor.

FanDuel, which was established in Edinburgh in 2009, has actually gone into a merger agreement with DraftKings.
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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 headquarters to New york city numerous years back.

DraftKings has its headquarters in Boston.

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

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

Both companies have actually been dealing with regulatory and legal challenges to their market, with regulators in some US states ruling that dream sports firms' activities amounted to unlawful gambling.
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In a joint declaration on Friday, the business said that by combining and enhancing resources they might "speed up work with government officials to continue to develop a standard regulatory structure".
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They also expect the "strategic merger of equates to" to bring efficiencies and cost savings and help the combined business "accelerate its course to success".
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FanDuel chief executive Nigel Eccles said: "Having the ability to integrate DraftKings and FanDuel presents an incredible opportunity for us to even more innovate and disrupt the sports industry.

"While both business have accomplished much already, this promotion code deal will produce a company that can provide a higher variety of offerings, interesting brand-new users, consisting of the 10s of dream gamers that haven't yet tried our products."

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