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

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Fantasy sports firms FanDuel and DraftKings accept combine
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18 November 2016
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A Scottish tech firm which ended up being a major gamer in the US fantasy sports market is to merge with its biggest rival.

FanDuel, which was established in Edinburgh in 2009, has gotten in a merger contract with DraftKings.
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The deal, which is subject to regulative approval, is expected to close in the second half of next year.

FanDuel has workplaces in Edinburgh and Glasgow however moved its headquarters to New York several years ago.

DraftKings has its head office in Boston.

The companies bet9ja's welcome offer online dream contests across expert sports in the US, Canada and the UK.

Cost savings

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

Both business have actually been facing regulatory and legal challenges to their market, with regulators in some US states ruling that fantasy sports companies' activities amounted to unlawful gambling.

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

They also expect the "tactical merger of equals" to bring efficiencies and expense savings and help the combined company "accelerate its course to profitability".

FanDuel president Nigel Eccles stated: "Being able to combine DraftKings and FanDuel provides a tremendous opportunity for us to further innovate and interfere with the sports market.
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"While both business have actually achieved much currently, this deal will create a company that can a higher range of offerings, appealing to brand-new users, consisting of the tens of millions of season-long dream gamers that haven't yet attempted our products."

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