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

wilmer85r15953/paddy-power-in-speak-to-merge-with-fan-duel

Paddy Power in speak to combine with Fan Duel
bit.ly
16 May 2018

Gambling company Paddy Power Betfair has stated it remains in talks over a merger in the US with dream sports website Fan Duel.

Talks centre around integrating its US operation with Fan Duel to create a service to "to target the potential US sports betting market".
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It comes as the American Supreme Court reversed 1992 legislation that banned sports betting in the yohaig code majority of US states.
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Fan Duel permits sports fans to bet on fantasy sports leagues and contests.
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Merger deserted
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It offers dream sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports gamers in North America.
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Players select which contest they wish to get in, develop fantasy sports groups that do not breach a dream income cap, and take part 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 staff members.

A proposal to merge with rivals Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has indicated its objective to go into the sports betting market.
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Horseracing channel

The Dublin-based gambling firm currently has a United States division, which consists of the TVG Network, a horseracing TV 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 betting exchange.
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A merger with Fan Duel would provide it access to millions of prospective sports wagering fans.
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Neil Wilson, chief expert at markets.com, said wagering firms were currently jockeying for position after the Supreme Court ruling.

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