Paddy Power in Speak With Merge With Fan Duel
Paddy Power in talk with merge with Fan Duel
16 May 2018
Gambling company 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 business to "to target the prospective US sports wagering market".
It comes as the American Supreme Court reversed 1992 legislation that banned sports wagering in most US states.
Fan Duel permits sports fans to bet on dream sports leagues and contests.
Merger deserted
It provides fantasy sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports gamers in North America.
Players choose which contest they wish to go into, develop fantasy sports teams that do not breach a dream wage cap, and engage in head-to-head or multi-player contests.
The company, which was founded in 2009, is based in New york city and has about 400 staff members.
A proposal to combine with rivals Draft Kings was abandoned in 2015, after being obstructed by the Federal Trade Commission on the grounds that the combined company would manage a 90% market share.
Since the Supreme Court ruling on 14 May Draft Kings has actually signalled its objective to enter the sports betting market.
Horseracing channel
The Dublin-based gaming company currently has a United States division, which includes the TVG Network, a horseracing TV channel and online betting network which is active in 35 states.
And in the state of New Jersey, the company has an online casino and a horse racing wagering exchange.
A merger with Fan Duel would give it access to countless potential sports betting fans.
Neil Wilson, primary analyst at markets.
Paddy Power in talk with merge with Fan Duel
16 May 2018
Gambling company 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 business to "to target the prospective US sports wagering market".
It comes as the American Supreme Court reversed 1992 legislation that banned sports wagering in most US states.
Fan Duel permits sports fans to bet on dream sports leagues and contests.
Merger deserted
It provides fantasy sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports gamers in North America.
Players choose which contest they wish to go into, develop fantasy sports teams that do not breach a dream wage cap, and engage in head-to-head or multi-player contests.
The company, which was founded in 2009, is based in New york city and has about 400 staff members.
A proposal to combine with rivals Draft Kings was abandoned in 2015, after being obstructed by the Federal Trade Commission on the grounds that the combined company would manage a 90% market share.
Since the Supreme Court ruling on 14 May Draft Kings has actually signalled its objective to enter the sports betting market.
Horseracing channel
The Dublin-based gaming company currently has a United States division, which includes the TVG Network, a horseracing TV channel and online betting network which is active in 35 states.
And in the state of New Jersey, the company has an online casino and a horse racing wagering exchange.
A merger with Fan Duel would give it access to countless potential sports betting fans.
Neil Wilson, primary analyst at markets.