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

Paddy Power in speak with merge with Fan Duel
bet9ja.com
16 May 2018

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

Talks centre around its US operation with Fan Duel to produce an organization to "to target the potential US sports betting market".

It comes as the yohaig code American Supreme Court reversed 1992 legislation that prohibited sports betting in many US states.

Fan Duel allows sports fans to bet on dream sports leagues and contests.

Merger abandoned
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It offers dream sport video gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult dream sports players in The United States and Canada.
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Players select which contest they wish to get in, develop dream sports teams that do not breach a dream salary cap, and participate in head-to-head or multi-player contests.
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The business, which was founded in 2009, is based in New york city and has about 400 staff members.
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A proposal to combine with rivals Draft Kings was abandoned in 2015, after being blocked by the Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has signified its intention to get in the sports gambling market.

Horseracing channel
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The Dublin-based betting company 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 wagering exchange.

A merger with Fan Duel would provide it access to countless prospective sports betting fans.
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Neil Wilson, primary analyst at markets.com, said betting firms were already jockeying for position after the Supreme Court ruling.

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