1 Paddy Power in Talks to Merge With Fan Duel
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Paddy Power in speak to merge with Fan Duel
bit.ly
16 May 2018
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Gambling firm Paddy Power Betfair has stated it is in talks over a merger in the yohaig code US with fantasy sports website Fan Duel.

Talks centre around combining its US operation with Fan Duel to produce a business to "to target the potential US sports betting market".

It comes as the American Supreme Court overturned 1992 legislation that prohibited sports betting in many US states.

Fan Duel permits sports fans to bet on fantasy sports leagues and contests.

Merger abandoned

It provides 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 dream sports gamers in North America.

Players select which contest they desire to get in, build fantasy sports teams that do not breach a dream income cap, and participate in head-to-head or multi-player contests.
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The company, which was founded in 2009, is based in New York and has about 400 employees.
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A proposition to combine with rivals Draft Kings was deserted last year, after being obstructed by the Federal Trade on the premises that the combined company would control a 90% market share.

Since the Supreme Court judgment on 14 May Draft Kings has signalled its objective to get in the sports gambling market.

Horseracing channel

The Dublin-based betting company already has a United States division, which consists of the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.
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And in the state of New Jersey, the business has an online casino and a horse racing betting exchange.

A merger with Fan Duel would provide it access to countless potential sports wagering fans.
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Neil Wilson, primary expert at markets.com, stated wagering firms were currently jockeying for position after the Supreme Court judgment.

"Fan Duel rival Draft Kings has already said it will enter the sports betting market and there is some sense that regional incumbents may be able to acquire considerable market share before UK and European operators get a chance to mobilise their forces," he said.