Fantasy Sports Firms FanDuel And DraftKings Agree To Merge
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Fantasy sports firms FanDuel and DraftKings consent to merge
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18 November 2016
A Scottish tech firm which became a significant player in the US dream sports market is to merge with its biggest competitor.
FanDuel, which was founded in Edinburgh in 2009, has gone into a merger agreement with DraftKings.
the yohaig code deal, which undergoes regulatory approval, is anticipated to close in the second half of next year.
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FanDuel has workplaces in Edinburgh and Glasgow but moved its head office to New York numerous years back.
DraftKings has its headquarters in Boston.
The companies use online fantasy contests across expert sports in the US, Canada and the UK.
Cost cost savings
There are an approximated 57 million fantasy gamers in the yohaig code US alone.
Both companies have been dealing with regulatory and legal obstacles to their industry, with regulators in some US states ruling that dream sports companies' activities amounted to prohibited gaming.
In a joint declaration on Friday, the business said that by integrating and simplifying resources they might "accelerate deal with federal government authorities to continue to develop a basic regulatory structure".
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They also expect the "tactical merger of equates to" to bring effectiveness and expense savings and help the combined company "accelerate its course to success".
FanDuel president Nigel Eccles said: "Being able to integrate DraftKings and FanDuel presents a tremendous chance for us to further innovate and disrupt the sports market.
"While both business have accomplished much currently, this promotion code transaction will a service that can provide a higher variety of offerings, interesting brand-new users, consisting of the tens of countless season-long dream players that haven't yet attempted our items."
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