Paddy Power in Speak To Merge With Fan Duel
Paddy Power in speak with combine with Fan Duel
16 May 2018
Gambling firm Paddy Power Betfair has stated it is in talks over a merger in the US with dream sports website Fan Duel.
Talks centre around combining its US operation with Fan Duel to create a company to "to target the prospective US sports wagering market".
It comes as the American Supreme Court overturned 1992 legislation that prohibited sports wagering in a lot of US states.
Fan Duel enables sports fans to bet on fantasy sports leagues and contests.
Merger deserted
It uses dream sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult fantasy sports gamers in The United States and Canada.
Players choose which contest they desire to enter, construct dream sports teams that do not breach a dream wage cap, and participate in head-to-head or multi-player contests.
The business, which was established in 2009, is based in New york city and has about 400 employees.
A proposal to combine with rivals Draft Kings was deserted in 2015, after being obstructed by the Federal Trade Commission on the grounds that the combined firm would control a 90% market share.
Since the Supreme Court ruling on 14 May Draft Kings has indicated its intent to go into the sports betting market.
Horseracing channel
The Dublin-based betting firm already has a United States division, which includes the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.
And in the state of New Jersey, the business has an online gambling establishment and a horse racing wagering exchange.
A merger with Fan Duel would provide it access to millions of prospective sports betting fans.
Neil Wilson, chief analyst at markets.
Paddy Power in speak with combine with Fan Duel
16 May 2018
Gambling firm Paddy Power Betfair has stated it is in talks over a merger in the US with dream sports website Fan Duel.
Talks centre around combining its US operation with Fan Duel to create a company to "to target the prospective US sports wagering market".
It comes as the American Supreme Court overturned 1992 legislation that prohibited sports wagering in a lot of US states.
Fan Duel enables sports fans to bet on fantasy sports leagues and contests.
Merger deserted
It uses dream sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult fantasy sports gamers in The United States and Canada.
Players choose which contest they desire to enter, construct dream sports teams that do not breach a dream wage cap, and participate in head-to-head or multi-player contests.
The business, which was established in 2009, is based in New york city and has about 400 employees.
A proposal to combine with rivals Draft Kings was deserted in 2015, after being obstructed by the Federal Trade Commission on the grounds that the combined firm would control a 90% market share.
Since the Supreme Court ruling on 14 May Draft Kings has indicated its intent to go into the sports betting market.
Horseracing channel
The Dublin-based betting firm already has a United States division, which includes the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.
And in the state of New Jersey, the business has an online gambling establishment and a horse racing wagering exchange.
A merger with Fan Duel would provide it access to millions of prospective sports betting fans.
Neil Wilson, chief analyst at markets.