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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.
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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 wagering market".
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It comes as the American Supreme Court overturned 1992 legislation that prohibited sports betting in the majority of US states.
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Fan Duel enables sports fans to bet on dream sports leagues and contests.

Merger deserted

It offers dream sport video gaming around NFL Football, MLB baseball, NBA basketball and NHL ice hockey. There are approximated to be around 30 million adult dream sports players in North America.
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Players select which contest they desire to enter, develop fantasy sports teams that do not breach a fantasy wage cap, and engage 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.
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A proposal to merge with competitors Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the grounds that the combined firm would manage a 90% market share.

Since the Supreme Court ruling on 14 May Draft Kings has indicated its intention to get in the market.

Horseracing channel

The Dublin-based gambling company currently has a United States division, which consists of 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 wagering exchange.
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A merger with Fan Duel would bet9ja's welcome offer it access to countless prospective sports wagering fans.

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

"Fan Duel rival 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 significant market share before UK and European operators get an opportunity to mobilise their forces," he said.