Paddy Power in talk with combine with Fan Duel
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16 May 2018
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Gambling company Paddy Power Betfair has stated it is in talks over a merger in the US with fantasy sports website 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".
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It comes as the American Supreme Court reversed 1992 legislation that banned sports betting in the yohaig code majority of US states.

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

Merger deserted

It offers 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 The United States and Canada.
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Players choose which contest they want to get in, construct dream sports teams that do not breach a fantasy salary cap, and take part in head-to-head or multi-player contests.
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The company, which was established in 2009, is based in New york city and has about 400 staff members.
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A proposition to merge with competitors Draft Kings was abandoned last year, after being obstructed by the yohaig code Federal Trade Commission on the premises that the combined company would manage a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has indicated its objective to enter the yohaig code sports gambling market.

Horseracing channel

The company already has an US division, that 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 betting exchange.

A merger with Fan Duel would give it access to millions of possible sports wagering fans.
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Neil Wilson, primary analyst at markets.com, said betting firms were already jockeying for position after the Supreme Court judgment.

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