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Fantasy sports firms FanDuel and DraftKings accept combine

18 November 2016

A Scottish tech firm which became a significant player in the yohaig code US dream sports market is to merge with its most significant rival.

FanDuel, which was established in Edinburgh in 2009, has actually gotten in a merger arrangement with DraftKings.

The transaction, which goes through regulatory approval, is anticipated to close in the second half of next year.
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FanDuel has offices in Edinburgh and Glasgow however moved its headquarters to New York several years ago.
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DraftKings has its head office in Boston.

The business use online fantasy contests across expert sports in the US, Canada and the UK.

Cost savings

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

Both companies have been dealing with regulative and to their market, with regulators in some US states ruling that fantasy sports firms' activities totaled up to unlawful betting.

In a joint statement on Friday, the companies said that by combining and improving resources they might "speed up deal with federal government authorities to continue to establish a standard regulatory structure".
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They likewise expect the "tactical merger of equals" to bring performances and expense savings and assist the combined company "accelerate its course to success".

FanDuel president Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides a tremendous chance for us to further innovate and interfere with the yohaig code sports market.
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"While both business have actually accomplished much currently, this promotion code transaction will create a company that can offer a greater variety of offerings, interesting new users, including the yohaig code 10s of millions of season-long fantasy players that have not yet attempted our items."
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