PaddyPower Betfair buys US DFS operator

Toda

PaddyPowerBetfair
y UK based betting operator PaddyPower Betfair announced its purchase of American DFS company Draft in a deal worth an estimated $48m.

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.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...