Fantasy sports firms FanDuel and DraftKings consent to merge

18 November 2016

A Scottish tech company which ended up being a significant player in the US fantasy sports market is to combine with its biggest rival.

FanDuel, which was founded in Edinburgh in 2009, has gotten in a merger arrangement with DraftKings.

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

FanDuel has offices in Edinburgh and Glasgow however moved its headquarters to New york city several years back.

DraftKings has its head office in Boston.

the yohaig code companies use online dream contests throughout professional sports in the US, Canada and the UK.

Cost cost savings

There are an estimated 57 million dream gamers in the US alone.

Both business have actually been dealing with regulatory and legal difficulties to their market, with regulators in some US states ruling that dream sports companies' activities totaled up to illegal gaming.

In a joint declaration on Friday, the business said that by integrating and enhancing resources they could "accelerate deal with federal government authorities to continue to develop a standard regulative framework".

They also anticipate the "strategic merger of equates to" to bring performances and cost savings and assist the yohaig code combined business "accelerate its path to profitability".

FanDuel chief executive Nigel Eccles said: "Having the ability to combine DraftKings and FanDuel provides a remarkable chance for us to further innovate and disrupt the sports industry.

"While both companies have actually achieved much currently, this deal will create a business that can use a higher range of offerings, appealing to new users, consisting of the tens of millions of season-long fantasy gamers that have not yet attempted our products."

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