Paddy Power In Talk With Merge With Fan Duel

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Paddy Power in talk with combine with Fan Duel
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16 May 2018


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


Talks centre around integrating its US operation with Fan Duel to produce a company to "to target the prospective US sports wagering market".
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It comes as the American Supreme Court reversed 1992 legislation that banned sports betting in many US states.


Fan Duel enables sports fans to gamble on fantasy sports leagues and contests.


Merger abandoned


It offers fantasy sport video 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 pick which contest they wish to enter, develop fantasy sports groups that do not breach a fantasy wage cap, and take part 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.


A proposition to merge with rivals Draft Kings was abandoned in 2015, after being obstructed by the Federal Trade Commission on the premises that the combined company would manage a 90% market share.


Since the Supreme Court judgment on 14 May Draft Kings has signified its objective to enter the sports betting market.
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Horseracing channel


The Dublin-based betting firm already has an US division, 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 business has an online gambling establishment and a horse racing betting exchange.
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A merger with Fan Duel would give it access to millions of prospective sports betting fans.
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Neil Wilson, chief analyst at markets.com, firms were currently jockeying for position after the Supreme Court judgment.


"Fan Duel competing Draft Kings has currently stated it will get in the sports betting market and there is some sense that regional incumbents might be able to gain significant market share before UK and European operators get an opportunity to mobilise their forces," he said.
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