iovation2019.png
iovation2019.png
iovation2019.png
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2019 AffiliateCon
NEWS 11 July 2018

PaddyPower Betfair completes US business merger

By Harrison Sayers

PaddyPower Betfair and FandDuel have confirmed the completed merger of their US businesses, creating the largest online sports destination in the US.

The new company will operate as part of FanDuel Group, consisting of a number of FanDuel's and PaddyPower Betfair’s brand’s including, FanDuel, TVG Network, Betfair Casino, and DRAFT.

Together, the combined businesses operate over a combined 45 states in the US, with a reach of eight million customers, and $265m in annual revenue.

“The new company embodies the strengths of TVG, Betfair US and FanDuel and brings together the brilliant talent, technological expertise, and shared resources to capture the US market opportunity in front of us,” said FanDuel CEO Matt King, who will serve as CEO of FanDuel Group.

“This is a pivotal time for the sports world in general, and we are poised to build upon our individual successes and join forces to build the best fan experience in the sports industry.”

The news follows Betfair US’s announcement that it has reached long-term agreements in both New Jersey and New York to operate sports books, at the Meadowlands Racetrack and Tioga Downs.

FanDuel have also said in a recent statement that they will be launching their first branded retail sportsbook at the Meadowlands Racetrack, although they have yet to specify when it will launch claiming that it will go live in the next few weeks.

RELATED TAGS: Mergers & Acquisitions | Sports Betting
DISCUSS THIS ARTICLE
IN-DEPTH 12 February 2019
Lies, damned lies and board reports
Industry veteran Kevin Dale offers tips to get the most out of revenue reporting in the boardroom
READ MORE
PREMIUM CONNECTIONS
VNE