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

henrystreeten4/paddy-power-in-speak-to-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 fantasy sports website Fan Duel.
bet9ja.com
Talks centre around combining its US operation with Fan Duel to create a company to "to target the potential US sports betting market".

It comes as the yohaig code American Supreme Court reversed 1992 legislation that banned sports wagering in many US states.
bit.ly
Fan Duel enables sports fans to gamble on fantasy sports leagues and contests.
bit.ly
Merger deserted
bet9ja.com
It offers dream sport gaming around NFL 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.
bet9ja.com
Players pick which contest they wish to go into, build dream sports groups that do not breach a dream salary cap, and take part in head-to-head or multi-player contests.

The business, which was founded in 2009, is based in New york city and has about 400 employees.
bet9ja.com
A proposal to merge with competitors Draft Kings was abandoned last year, after being blocked by the Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.
bit.ly
Since the Supreme Court judgment on 14 May Draft Kings has actually indicated its intent to go into the sports gambling market.
bet9ja.com
Horseracing channel
bit.ly
The Dublin-based gaming company currently has an US department, which consists of the TVG Network, a horseracing TV channel and online betting 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.
bit.ly
A merger with Fan Duel would provide it access to millions of possible sports betting fans.

Neil Wilson, primary analyst at markets.com, stated betting companies were already jockeying for position after the Supreme Court ruling.

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