Paddy Power in talks to merge with Fan Duel

16 May 2018

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 a business to "to target the potential US sports betting market".

It comes as the American Supreme Court overturned 1992 legislation that banned sports wagering in many US states.

Fan Duel permits sports fans to bet on dream sports leagues and contests.
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Merger deserted
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It provides dream sport video gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports gamers in North America.
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Players select which contest they want to enter, develop dream sports groups that do not breach a dream wage cap, and participate in head-to-head or multi-player contests.
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The company, which was founded in 2009, is based in New york city and has about 400 staff members.
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A proposition to combine with rivals Draft Kings was deserted in 2015, after being obstructed by the yohaig code Federal Trade Commission on the premises that the combined company would control a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has actually its objective to get in the sports betting market.
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Horseracing channel

The Dublin-based gambling company already has an US department, 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 company has an online gambling establishment and a horse racing betting exchange.
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A merger with Fan Duel would give it access to countless prospective sports betting fans.

Neil Wilson, chief expert at markets.com, stated betting firms were already jockeying for position after the Supreme Court ruling.

"Fan Duel competing Draft Kings has already said it will go into the sports betting market and there is some sense that regional incumbents may be able to acquire substantial market share before UK and European operators get a chance to mobilise their forces," he said.
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