PaddyPower Betfair buys US DFS operator

Under the terms of the deal PaddyPower Betfair will pay an initial cash amount of $19m, with a further amount of $29m being paid over the next four years, based on the company’s performance during that time.

Current Draft Co-Chief Executives Jeremy Levine and Jordan Fliegel will continue to run Draft, with the company having full access to PaddyPower Betfair’s marketing and technological expertise.

PaddyPower Betfair have confirmed that they will make a substantial marketing investment over the next few years to develop the business as the company looks to expand further into the US DFS market.

Chief Executive Breon Corcoran welcomed the acquisition, saying “We are excited to be bringing DRAFT into the group and to further increase our presence in the US.

“Draft has a differentiated product and we believe the business, with the support of our marketing and technology expertise, can take share in the fast-growing daily fantasy sports market.”

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Robert Simmons

Gambling Writer

Robert Simmons served as a writer for Gambling Insider, where he was an active contributor from 2017 until 2018. Throughout his tenure, Robert executed in-depth market research and wrote over 500 news and press-release articles covering the global gambling industry under strict editorial standards and tight deadlines. He contributed editorial support to the production of five 100+ page Gambling Insider magazines, eight 25+ page Trafficology magazines, and five 25+ page special print focus editions. In addition, he produced 30 in-depth feature articles for print, secured over 30 contributions from external writers, and built long-standing professional relationships with industry stakeholders across all levels of the gambling sector.

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