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

1 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 said it remains in talks over a merger in the US with dream sports site Fan Duel.
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Talks centre around integrating its US operation with Fan Duel to produce an organization to "to target the potential US sports wagering market".
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It comes as the yohaig code American Supreme Court overturned 1992 legislation that prohibited sports wagering in a lot of US states.
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Fan Duel enables sports fans to bet on fantasy sports leagues and .

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 dream sports gamers in North America.

Players select which contest they wish to enter, construct dream sports groups that do not breach a fantasy salary cap, and engage 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 proposal to combine with competitors Draft Kings was deserted last year, after being obstructed by the Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.

Since the Supreme Court ruling on 14 May Draft Kings has signalled its intention to enter the yohaig code sports gambling market.
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Horseracing channel

The Dublin-based gambling firm currently has an US division, which includes 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 business has an online gambling establishment and a horse racing betting exchange.

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

"Fan Duel competing Draft Kings has already stated it will enter the sports betting market and there is some sense that local incumbents might be able to acquire substantial market share before UK and European operators get a possibility to mobilise their forces," he stated.