Paddy Power Betfair Confirms Interest In Acquiring Daily Fantasy Sports Operator

Sportsbetting in Vegas

Acknowledges it is in talks with FanDuel

Paddy Power Betfair acknowledged Wednesday in a stock exchange advisory that it is in talks with US daily fantasy sports operator FanDuel regarding a possible acquisition.

The advisory follows speculation earlier this week that a deal is imminent.

“Paddy Power Betfair plc notes the media speculation, and confirms it is in discussions, regarding a potential combination of the Group’s US business and FanDuel to create a combined business to target the prospective US sports betting market,” the statement reads.

“Discussions are ongoing and there is no certainty as to whether agreement will be reached, or as to the terms or timing of any transaction.

“A further announcement will be made as appropriate.”

Press reports earlier in the week noted that Paddy Power already has interests in the USA via TVG and DFS company DRAFT, acquired for $48 million last May (see previous InfoPowa report).

Neil Wilson, the chief market analyst at Markets.com, told the publication Business Insider:

“Something like 20 US states are either ready or have legislation in the pipeline to legalise the industry. This constitutes a significant chance to grab market share for all the major UK sports bookmakers and it’s no surprise that we are seeing this kind of move.

“A FanDuel tie-up would give PPB the ability to rollout ops more quickly and scale up. It would also remove some potential local competition.”

About the Author... Total Posts Written: 1,831
Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

See More Posts