1 Fantasy Sports Firms FanDuel and DraftKings Consent To Merge
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Fantasy sports companies FanDuel and DraftKings concur to combine
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18 November 2016
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A Scottish tech firm which ended up being a major player in the US fantasy sports market is to merge with its greatest rival.

FanDuel, which was established in Edinburgh in 2009, has actually entered a merger agreement with DraftKings.

The transaction, which goes through regulatory approval, is expected to close in the second half of next year.

FanDuel has offices in Edinburgh and Glasgow however moved its head office to New york city several years ago.

DraftKings has its head office in Boston.

The use online fantasy contests across expert sports in the US, Canada and the yohaig code UK.

Cost cost savings

There are an estimated 57 million fantasy players in the US alone.

Both companies have actually been dealing with regulative and legal difficulties to their industry, with regulators in some US states ruling that fantasy sports firms' activities amounted to illegal betting.

In a joint statement on Friday, the companies said that by integrating and streamlining resources they might "speed up work with government authorities to continue to establish a standard regulatory structure".

They also expect the "tactical merger of equals" to bring performances and cost savings and assist the combined company "accelerate its path to success".

FanDuel president Nigel Eccles said: "Being able to combine DraftKings and FanDuel provides a significant opportunity for us to even more innovate and interrupt the sports industry.

"While both companies have accomplished much currently, this deal will create a service that can provide a greater range of offerings, attracting brand-new users, including the tens of millions of season-long fantasy players that have not yet attempted our products."

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