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

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Paddy Power in talks to merge with Fan Duel
bit.ly
16 May 2018

Gambling firm Paddy Power Betfair has stated it remains in talks over a merger in the yohaig code US with fantasy sports site 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 prohibited sports wagering in a lot of US states.

Fan Duel allows sports fans to bet on fantasy sports leagues and contests.
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Merger deserted

It uses fantasy sport 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.
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Players choose which contest they wish to get in, develop fantasy sports groups that do not breach a fantasy salary cap, and participate in head-to-head or multi-player contests.

The business, which was founded in 2009, is based in New York and has about 400 employees.
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A proposition to combine with competitors Draft Kings was abandoned last year, after being blocked by the yohaig code Federal Trade Commission on the grounds that the combined company would manage a 90% market share.
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Since the yohaig code Supreme Court ruling on 14 May Draft Kings has indicated its objective to go into the sports betting market.

Horseracing channel
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The Dublin-based gambling company currently has a United States department, 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 company has an online casino and a horse racing betting exchange.

A merger with Fan Duel would provide it access to of potential sports betting fans.
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Neil Wilson, chief analyst at markets.com, said wagering firms were currently jockeying for position after the Supreme Court judgment.

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