Fantasy Sports Firms FanDuel And DraftKings Agree To Merge
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Fantasy sports companies FanDuel and DraftKings consent to combine
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18 November 2016
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A Scottish tech company which became a major player in the US dream sports market is to with its biggest competitor.
FanDuel, which was founded in Edinburgh in 2009, has actually entered a merger arrangement with DraftKings.
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The deal, which undergoes regulative approval, is anticipated to close in the yohaig code second half of next year.
FanDuel has workplaces in Edinburgh and Glasgow but moved its head office to New york city several years earlier.
DraftKings has its headquarters in Boston.
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The business provide online dream contests across expert sports 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 been dealing with regulatory and legal challenges to their market, with regulators in some US states ruling that dream sports companies' activities amounted to illegal gaming.
In a joint statement on Friday, the business said that by combining and streamlining resources they could "accelerate deal with government authorities to continue to establish a basic regulative framework".
They likewise anticipate the "tactical merger of equates to" to bring efficiencies and cost savings and help the combined business "accelerate its course to profitability".
FanDuel president Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel presents a remarkable opportunity for us to further innovate and interfere with the sports market.
"While both business have actually achieved much currently, this promotion code deal will produce a company that can use a higher variety of offerings, attracting brand-new users, including the yohaig code 10s of countless season-long fantasy players that haven't yet attempted our items."
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