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Fantasy sports firms FanDuel and DraftKings accept combine
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18 November 2016

A Scottish tech firm which became a major player in the US dream sports market is to merge with its biggest competitor.
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FanDuel, which was established in Edinburgh in 2009, has actually entered a merger contract with DraftKings.

The deal, which undergoes regulative approval, is anticipated to close in the second half of next year.

FanDuel has offices in Edinburgh and Glasgow but moved its head office to New York a number of years ago.

DraftKings has its head office in Boston.

The business use online dream contests throughout expert sports in the US, Canada and the UK.

Cost cost savings

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

Both business have actually been dealing with regulatory and legal obstacles to their market, with regulators in some US states ruling that dream sports companies' activities totaled up to illegal gambling.

In a joint declaration on Friday, the business said that by combining and streamlining resources they might "speed up work with government authorities to continue to establish a standard regulatory structure".

They also anticipate the "strategic merger of equates to" to bring performances and expense savings and help the combined business "accelerate its path to profitability".

FanDuel president Nigel Eccles stated: "Being able to integrate DraftKings and FanDuel provides a remarkable opportunity for us to even more innovate and disrupt the sports market.

"While both companies have actually much already, this promotion code transaction will produce a service that can provide a greater range of offerings, attracting new users, consisting of the tens of countless season-long fantasy players that haven't yet tried our items."

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