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Paddy Power in speak to combine with Fan Duel
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16 May 2018
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Gambling company Paddy Power Betfair has stated it remains in talks over a merger in the US with dream sports site Fan Duel.

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

It comes as the American Supreme Court overturned 1992 legislation that prohibited sports betting in most US states.
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Fan Duel fans to gamble on fantasy sports leagues and contests.

Merger abandoned

It provides fantasy sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult dream sports players in North America.

Players select which contest they want to go into, develop fantasy sports groups that do not breach a fantasy wage cap, and engage in head-to-head or multi-player contests.

the yohaig code company, which was founded in 2009, is based in New york city and has about 400 employees.
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A proposition to merge with competitors Draft Kings was deserted in 2015, after being obstructed by the yohaig code Federal Trade Commission on the grounds that the yohaig code combined firm would control a 90% market share.

Since the Supreme Court judgment on 14 May Draft Kings has signalled its intent to enter the sports gambling market.

Horseracing channel
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The Dublin-based betting company already has a United States division, that includes the TVG Network, a horseracing TV channel and online betting 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.
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A merger with Fan Duel would provide it access to countless possible sports wagering fans.
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Neil Wilson, chief analyst at markets.com, said wagering companies were already jockeying for position after the Supreme Court judgment.

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