Fantasy sports firms FanDuel and DraftKings accept combine
18 November 2016
A Scottish tech company which ended up being a significant player in the US dream sports market is to combine with its greatest competitor.
FanDuel, which was established in Edinburgh in 2009, has gone into a merger arrangement with DraftKings.
The deal, which is subject to regulatory approval, is expected to close in the 2nd half of next year.
FanDuel has workplaces in Edinburgh and Glasgow but moved its head office to New York several years ago.
DraftKings has its head office in Boston.
The companies provide online fantasy contests throughout professional sports in the US, Canada and the yohaig code UK.
Cost cost savings
There are an approximated 57 million dream players in the yohaig code US alone.
Both companies have been dealing with regulatory and legal obstacles to their market, with regulators in some US states ruling that dream sports companies' activities amounted to prohibited betting.
In a joint statement on Friday, the business stated that by combining and simplifying resources they might "speed up deal with federal government authorities to continue to establish a standard regulative structure".
They also anticipate the yohaig code "tactical merger of equates to" to bring performances and cost savings and help the yohaig code combined company "accelerate its path to success".
FanDuel president Nigel Eccles stated: "Being able to combine DraftKings and FanDuel presents an incredible opportunity for us to even more innovate and interfere with the sports industry.
"While both business have actually achieved much already, this promotion code transaction will produce a company that can provide a greater range of offerings, attracting new users, including the yohaig code 10s of countless season-long dream players that have not yet attempted our items."
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