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Fantasy sports companies FanDuel and DraftKings accept combine
18 November 2016
A Scottish tech firm which became a significant gamer in the US fantasy sports market is to combine with its most significant rival.
FanDuel, which was established in Edinburgh in 2009, has actually gotten in a merger agreement with DraftKings.
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The deal, which is subject to regulatory approval, is expected to close in the second half of next year.
FanDuel has workplaces in Edinburgh and however moved its head office to New york city a number of years earlier.
DraftKings has its headquarters in Boston.
The companies use online fantasy contests throughout professional sports in the US, Canada and the UK.
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Cost cost savings
There are an estimated 57 million fantasy players in the US alone.
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Both companies have actually been facing regulative and legal challenges to their market, with regulators in some US states ruling that dream sports firms' activities amounted to unlawful gaming.
In a joint declaration on Friday, the companies stated that by combining and enhancing resources they could "accelerate deal with government authorities to continue to establish a basic regulative structure".
They likewise expect the "tactical merger of equates to" to bring efficiencies and cost savings and assist the combined company "accelerate its course to success".
FanDuel president Nigel Eccles stated: "Being able to combine DraftKings and FanDuel provides a tremendous chance for us to even more innovate and interrupt the sports industry.
"While both business have accomplished much currently, this promotion code deal will develop a service that can provide a greater range of offerings, appealing to brand-new users, including the tens of millions of season-long dream gamers that haven't yet attempted our products."
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Fantasy Sports Firms FanDuel and DraftKings Agree To Merge
gus95854853807 edited this page 2025-09-22 06:02:26 +03:00