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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 firm Paddy Power Betfair has stated it remains in talks over a merger in the US with dream sports site Fan Duel.
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Talks centre around integrating its US operation with Fan Duel to produce an organization to "to target the prospective US sports betting market".
It comes as the American Supreme Court overturned 1992 legislation that banned sports wagering in a lot of US states.
Fan Duel permits sports fans to bet on fantasy sports leagues and contests.
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Merger abandoned
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It provides dream sport video gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult fantasy sports players in North America.
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Players pick which contest they wish to get in, build fantasy sports groups that do not breach a fantasy income cap, and participate 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 employees.
A proposal to merge with rivals Draft Kings was deserted in 2015, after being blocked by the Federal Trade Commission on the premises that the combined firm would manage a 90% market share.
Since the Supreme Court judgment on 14 May Draft Kings has its intent to enter the sports gambling market.
Horseracing channel
The Dublin-based betting firm currently has a United States department, that includes the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.
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And in the state of New Jersey, the yohaig code business has an online gambling establishment and a horse racing betting exchange.
A merger with Fan Duel would give it access to countless potential sports betting fans.
Neil Wilson, primary expert at markets.com, stated betting firms were currently 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 regional incumbents might have the ability to get substantial market share before UK and European operators get a possibility to mobilise their forces," he said.
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Paddy Power in Speak With Merge With Fan Duel
minda206027248 edited this page 2025-10-22 04:07:40 +08:00