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NEWS 16 August 2019

FanDuel secures MLB deal

By Owain Flanders

FanDuel has signed a multi-year agreement with MLB that makes the sportsbook operator the official gaming partner of the league.

The agreement will permit FanDuel to use official MLB data and logos in its online and retail sportsbooks.

The operator has already agreed similar partnerships with the NBA and the NHL, and has sportsbooks in Pennsylvania and New Jersey.

New Jersey reported total sports wagering revenue of $17.9m for the month of July, a year-on-year rise of more than four times over.

Since its acquisition of FanDuel last year, Flutter Entertainment (formerly Paddy Power Betfair) reported an 18% increase in revenue to £1.02bn for H1 2019, with significant rises in Australia and the US.

However, this was countered by a 24% fall in profit levels which the group attributed to the “seasonality of the US business,” where customer acquisition investment in both fantasy sports and sports betting was higher ahead of the NFL season.

DraftKings was recently named the MLB’s authorised gaming operator, granting it similar rights for data and logo use.

There is still an ongoing debate over integrity fees among elite-level leagues, such as MLB and the NBA, which could see operators charged a percentage of sports betting handle.

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