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Fantasy sports firms FanDuel and DraftKings consent to combine

18 November 2016

A Scottish tech company which ended up being a significant player in the US fantasy sports market is to merge with its greatest competitor.

FanDuel, which was established in Edinburgh in 2009, has actually gone into a merger arrangement with DraftKings.
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The transaction, which undergoes regulative approval, is expected to close in the 2nd half of next year.

FanDuel has workplaces in Edinburgh and however moved its head office to New york city a number of years ago.

DraftKings has its head office in Boston.
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The companies provide online fantasy 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.
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Both business have actually been facing regulative and legal obstacles to their industry, with regulators in some US states ruling that dream sports companies' activities amounted to illegal gambling.

In a joint declaration on Friday, the business stated that by integrating and improving resources they could "speed up deal with government authorities to continue to establish a basic regulative structure".

They also expect the "strategic merger of equates to" to bring efficiencies and expense savings and help the combined business "accelerate its course to profitability".
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FanDuel chief executive Nigel Eccles said: "Having the ability to integrate DraftKings and FanDuel presents a tremendous chance for us to further innovate and interfere with the sports industry.
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"While both business have actually accomplished much already, this promotion code deal will produce an organization that can use a greater range of offerings, interesting new users, consisting of the 10s of countless season-long fantasy gamers that haven't yet tried our items."
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