paddy-power-in-talks-to-merge-with-fan-duel

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in speak to combine with Fan Duel
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16 May 2018
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Gambling company Paddy Power Betfair has stated it remains in talks over a merger in the US with fantasy 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 betting market".

It comes as the American Supreme Court overturned 1992 legislation that banned sports wagering in a lot of US states.
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Fan Duel enables sports fans to gamble on dream sports leagues and contests.
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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 players in North America.

Players choose which contest they want to get in, develop dream sports teams that do not breach a dream wage cap, and participate in head-to-head or multi-player contests.
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The business, which was established in 2009, is based in New york city and has about 400 staff members.

A proposal to combine with competitors Draft Kings was deserted last year, after being blocked by the Federal Trade Commission on the premises that the yohaig code combined firm would manage a 90% market share.
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Since the Supreme Court ruling on 14 May Draft Kings has actually signified its intent to get in the yohaig code sports betting market.
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Horseracing channel

The Dublin-based gambling firm currently has an US department, which includes 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 gambling establishment and a horse racing betting exchange.
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A merger with Fan Duel would provide it access to countless prospective sports wagering fans.

Neil Wilson, primary expert at markets.com, said betting companies were currently jockeying for position after the Supreme Court judgment.

"Fan Duel rival Draft Kings has currently stated it will get in the sports betting market and there is some sense that local incumbents might have the ability to get substantial market share before UK and European operators get a chance to mobilise their forces," he stated.
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