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Fantasy sports companies FanDuel and DraftKings accept merge
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18 November 2016
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A Scottish tech company which became a major gamer in the US fantasy sports market is to combine with its biggest rival.
FanDuel, which was founded in Edinburgh in 2009, has actually gone into a merger contract with DraftKings.
The deal, which goes through regulatory approval, is anticipated to close in the yohaig code 2nd half of next year.
FanDuel has workplaces in Edinburgh and however moved its head office to New york city numerous years earlier.
DraftKings has its headquarters in Boston.
The companies provide online dream contests across expert sports in the US, Canada and the UK.
Cost savings
There are an approximated 57 million fantasy players 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 dream sports companies' activities amounted to illegal betting.
In a joint declaration on Friday, the business said that by integrating and streamlining resources they might "speed up work with federal government officials to continue to develop a basic regulatory structure".
They also expect the "tactical merger of equals" to bring performances and expense savings and help the combined business "accelerate its path to success".
FanDuel president Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides a tremendous chance for us to even more innovate and interrupt the sports industry.
"While both business have achieved much currently, this promotion code transaction will produce a service that can provide a greater variety of offerings, attracting new users, consisting of the tens of countless season-long dream gamers that have not yet tried our products."
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Fantasy Sports Firms FanDuel and DraftKings Consent To Merge
gildawessel21 edited this page 2025-10-22 07:49:21 +08:00