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

Fantasy sports companies FanDuel and DraftKings consent to merge

18 November 2016

A Scottish tech firm which became a significant player in the yohaig code US fantasy sports market is to merge with its most significant competitor.

FanDuel, which was established in Edinburgh in 2009, has gone into a merger contract with DraftKings.
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the yohaig code transaction, which is subject to regulatory approval, is anticipated to close in the 2nd half of next year.

FanDuel has offices in Edinburgh and Glasgow however moved its head office to New York numerous years earlier.
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DraftKings has its head office in Boston.
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The companies provide online dream contests across in the US, Canada and the UK.

Cost savings

There are an estimated 57 million dream players in the US alone.
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Both business have actually been dealing with regulative and legal obstacles to their industry, with regulators in some US states ruling that fantasy sports companies' activities amounted to illegal gaming.
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In a joint declaration on Friday, the business stated that by integrating and enhancing resources they could "speed up work with government officials to continue to establish a standard regulatory framework".

They also anticipate the "strategic merger of equates to" to bring performances and cost savings and help the combined company "accelerate its course to profitability".
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FanDuel president Nigel Eccles said: "Having the ability to integrate DraftKings and FanDuel presents a significant chance for us to even more innovate and disrupt the sports market.

"While both business have actually accomplished much already, this promotion code transaction will produce a company that can offer a greater range of offerings, attracting new users, including the 10s of millions of season-long fantasy gamers that haven't yet tried our products."
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