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

bit.ly
Paddy Power in talk with merge with Fan Duel

16 May 2018
bet9ja.com
Gambling company Paddy Power Betfair has said it is in talks over a merger in the US with dream sports website Fan Duel.

Talks centre around combining its US operation with Fan Duel to produce a company to "to target the potential US sports betting market".

It comes as the yohaig code American Supreme Court overturned 1992 legislation that banned sports wagering in many US states.
bet9ja.com
Fan Duel enables sports fans to gamble on fantasy sports leagues and contests.

Merger abandoned

It uses fantasy sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult dream sports gamers in The United States and Canada.
bet9ja.com
Players select which contest they want to get in, construct dream sports groups that do not breach a cap, and participate in head-to-head or multi-player contests.
bet9ja.com
The company, which was established in 2009, is based in New york city and has about 400 workers.

A proposition to merge with rivals Draft Kings was deserted in 2015, after being obstructed by the yohaig code Federal Trade Commission on the grounds that the combined company would control a 90% market share.

Since the yohaig code Supreme Court judgment on 14 May Draft Kings has actually signalled its objective to go into the sports betting market.

Horseracing channel

The Dublin-based betting firm already has an US department, which consists of the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.

And in the state of New Jersey, the business has an online casino and a horse racing wagering exchange.

A merger with Fan Duel would give it access to countless potential sports wagering fans.
bit.ly
Neil Wilson, chief analyst at markets.com, said betting firms were already jockeying for position after the Supreme Court judgment.

"Fan Duel competing Draft Kings has currently stated it will enter the sports wagering market and there is some sense that local incumbents may be able to gain substantial market share before UK and European operators get a chance to mobilise their forces," he stated.
bet9ja.com