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Paddy Power in talks to combine with Fan Duel

16 May 2018
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Gambling company Paddy Power Betfair has said it is in talks over a merger in the US with dream sports website Fan Duel.
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Talks centre around integrating its US operation with Fan Duel to produce a business to "to target the prospective US sports betting market".

It comes as the American Supreme Court reversed 1992 legislation that prohibited sports wagering in the majority of US states.
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Fan Duel enables sports fans to bet on fantasy sports leagues and contests.

Merger abandoned

It provides dream sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports players in The United States and Canada.

Players select which contest they wish to go into, construct dream sports groups that do not breach a dream income cap, and engage in head-to-head or multi-player contests.
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The business, which was established in 2009, is based in New york city and has about 400 staff members.
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A to merge with competitors Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the yohaig code grounds that the combined firm would control a 90% market share.

Since the Supreme Court ruling on 14 May Draft Kings has actually signified its objective to get in the sports gambling market.
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Horseracing channel
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The Dublin-based gambling company currently 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 business has an online casino and a horse racing wagering exchange.

A merger with Fan Duel would give it access to countless prospective sports betting fans.

Neil Wilson, chief expert at markets.com, stated wagering companies were already jockeying for position after the Supreme Court judgment.

"Fan Duel rival Draft Kings has already said it will get in the yohaig code sports wagering market and there is some sense that regional incumbents may be able to get substantial market share before UK and European operators get an opportunity to mobilise their forces," he said.
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