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

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Paddy Power in talks to merge with Fan Duel
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16 May 2018
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Gambling company Paddy Power Betfair has said it is 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 company to "to target the potential US sports wagering market".

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

Fan Duel allows sports fans to bet on dream sports leagues and contests.

Merger deserted

It uses dream sport gaming around NFL American Football, MLB baseball, NBA basketball and NHL ice hockey. There are estimated to be around 30 million adult fantasy sports players in North America.

Players select which contest they wish to get in, build fantasy sports teams that do not breach a dream salary cap, and take part in head-to-head or multi-player contests.
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The business, which was founded in 2009, is based in New york city and has about 400 employees.
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A proposal to combine with competitors Draft Kings was deserted in 2015, after being obstructed by the yohaig code Federal Trade Commission on the yohaig code premises that the combined firm would manage a 90% market share.
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Since the Supreme Court judgment on 14 May Draft Kings has actually indicated its to get in the yohaig code sports gambling market.

Horseracing channel

The Dublin-based betting company currently has a United States department, which consists of the TVG Network, a horseracing TV channel and online wagering network which is active in 35 states.

And in the state of New Jersey, the company has an online casino and a horse racing wagering exchange.
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A merger with Fan Duel would give it access to countless potential sports wagering fans.
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Neil Wilson, chief expert at markets.com, stated betting companies were already jockeying for position after the Supreme Court ruling.

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