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

Paddy Power in talks to merge with Fan Duel

16 May 2018

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 integrating its US operation with Fan Duel to produce an organization to "to target the potential US sports betting market".
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It comes as the American Supreme Court reversed 1992 legislation that prohibited sports wagering in the majority of US states.

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

It provides dream sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in North America.
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Players pick which contest they want to get in, develop fantasy sports teams that do not breach a fantasy salary cap, and take part 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 workers.
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A proposal to combine with rivals 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.

Since the Court ruling on 14 May Draft Kings has indicated its intent to enter the sports gambling market.

Horseracing channel
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The Dublin-based gambling firm already has an US department, that includes 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 yohaig code company has an online casino and a horse racing betting exchange.
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A merger with Fan Duel would bet9ja's welcome offer it access to countless possible sports wagering fans.

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

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