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Fantasy sports companies FanDuel and DraftKings concur to merge

18 November 2016
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A Scottish tech company which became a major gamer in the US dream sports market is to combine with its greatest rival.
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FanDuel, which was established in Edinburgh in 2009, has actually gone into a merger arrangement with DraftKings.

The transaction, which undergoes regulatory approval, is to close in the 2nd half of next year.
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FanDuel has workplaces in Edinburgh and Glasgow but moved its head office to New york city numerous years ago.

DraftKings has its head office in Boston.

The companies provide online fantasy contests across professional sports in the US, Canada and the UK.
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Cost cost savings

There are an estimated 57 million fantasy gamers in the US alone.
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Both business have actually been dealing with regulatory and legal obstacles to their industry, with regulators in some US states ruling that fantasy sports companies' activities totaled up to prohibited gaming.

In a joint declaration on Friday, the companies 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 equals" to bring efficiencies and expense savings and assist the yohaig code combined business "accelerate its course to profitability".

FanDuel primary executive Nigel Eccles stated: "Having the ability to combine DraftKings and FanDuel presents a remarkable opportunity for us to further innovate and interfere with the sports market.

"While both business have actually accomplished much currently, this promotion code transaction will produce a service that can provide a greater range of offerings, interesting brand-new users, including the 10s of millions of season-long dream gamers that haven't yet tried our items."

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