fantasy-sports-firms-fanduel-and-draftkings-consent-to-merge

Fantasy sports firms FanDuel and DraftKings concur to combine
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18 November 2016

A Scottish tech firm which ended up being a significant player in the US fantasy sports market is to merge with its most significant rival.
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FanDuel, which was established in Edinburgh in 2009, has actually gotten in a merger contract with DraftKings.

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

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

DraftKings has its head office in Boston.
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The companies provide online dream contests throughout expert sports in the US, Canada and the UK.
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Cost savings

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

Both companies have actually been facing regulative and legal difficulties to their industry, with regulators in some US states ruling that dream sports firms' activities amounted to prohibited gaming.

In a joint declaration on Friday, the business stated that by integrating and simplifying resources they might "accelerate work with government officials to continue to develop a basic regulative structure".

They also anticipate the "strategic merger of equates to" to bring performances and cost savings and assist the combined business "accelerate its path to profitability".
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FanDuel president Nigel Eccles stated: "Having the ability to integrate DraftKings and FanDuel provides a remarkable chance for us to further innovate and interrupt the sports market.
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"While both companies have achieved much currently, this promotion code transaction will develop a service that can provide a higher range of offerings, appealing to users, including the 10s of countless season-long dream players that have not yet attempted our products."

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