paddy-power-in-speak-to-merge-with-fan-duel

christindion70/paddy-power-in-speak-to-merge-with-fan-duel

Paddy Power in speak to merge with Fan Duel
bet9ja.com
16 May 2018
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Gambling company Paddy Power Betfair has stated it remains in talks over a merger in the US with dream sports site Fan Duel.
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Talks centre around combining its US operation with Fan Duel to produce a service to "to target the prospective US sports wagering market".
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It comes as the American Supreme Court reversed 1992 legislation that prohibited sports betting in many US states.
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Fan Duel enables sports fans to bet on dream sports leagues and contests.

Merger abandoned

It provides dream sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports players in The United States and Canada.

Players choose which contest they wish to go into, sports groups that do not breach a fantasy salary 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 workers.
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A proposition to combine with rivals Draft Kings was abandoned in 2015, after being blocked by the Federal Trade Commission on the yohaig code premises that the combined company would control a 90% market share.

Since the Supreme Court ruling on 14 May Draft Kings has actually signalled its objective to get in the sports gambling market.
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Horseracing channel
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The Dublin-based gambling company currently has a United States division, which consists of the TVG Network, a horseracing TV channel and online betting network which is active in 35 states.
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And in the state of New Jersey, the company has an online gambling establishment and a horse racing wagering exchange.

A merger with Fan Duel would bet9ja's welcome offer it access to millions of potential sports wagering fans.
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Neil Wilson, chief expert at markets.com, stated betting firms were already jockeying for position after the Supreme Court judgment.

"Fan Duel rival Draft Kings has currently stated it will enter the sports wagering market and there is some sense that local incumbents might be able to get substantial market share before UK and European operators get an opportunity to mobilise their forces," he stated.