paddy-power-in-speak-with-merge-with-fan-duel

1 Paddy Power in Speak With Merge With Fan Duel

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Paddy Power in talks to combine with Fan Duel
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16 May 2018
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Gambling firm Paddy Power Betfair has said it remains in talks over a merger in the US with dream sports website Fan Duel.

Talks centre around integrating its US operation with Fan Duel to create a service to "to target the yohaig code prospective US sports betting market".

It comes as the American Supreme Court overturned 1992 legislation that prohibited sports betting in most US states.

Fan Duel allows sports fans to gamble on fantasy sports leagues and contests.
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Merger deserted
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It provides fantasy sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports players in North America.
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Players pick which contest they wish to get in, build fantasy sports teams that do not breach a dream salary cap, and participate in head-to-head or multi-player contests.

The company, which was founded in 2009, is based in New York and has about 400 employees.

A proposition to merge with rivals Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the grounds that the combined company would manage a 90% market share.

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

Horseracing channel
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The firm currently has a United States division, which 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 bet9ja's welcome offer it access to countless potential sports betting fans.

Neil Wilson, primary analyst at markets.com, stated betting firms were already jockeying for position after the Supreme Court judgment.

"Fan Duel competing Draft Kings has currently said it will go into the sports wagering market and there is some sense that local incumbents might have the ability to gain substantial market share before UK and European operators get a possibility to mobilise their forces," he said.