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Paddy Power in speak to merge with Fan Duel

16 May 2018

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 integrating its US operation with Fan Duel to create a business to "to target the prospective US sports wagering market".

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

Fan Duel permits sports fans to gamble on dream sports leagues and contests.

Merger deserted

It offers fantasy sport gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult dream sports gamers in The United States and Canada.

Players pick which contest they wish to go into, develop fantasy sports groups 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 staff members.

A proposition to combine with competitors Draft Kings was deserted last year, after being obstructed by the yohaig code Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.

Since the Supreme Court judgment on 14 May Draft Kings has indicated its intent to go into the sports gambling market.

Horseracing channel

the yohaig code Dublin-based gaming 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 yohaig code business has an online gambling establishment and a horse racing wagering .

A merger with Fan Duel would provide it access to countless potential sports betting fans.

Neil Wilson, chief expert at markets.com, stated wagering companies were currently jockeying for position after the Supreme Court judgment.

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