Gambling giant Paddy Power Betfair announced it has completed the merger of its US business with FanDuel, the US fantasy sports betting site founded in Edinburgh.
The new company will be called FanDuel Group and will operate brands including FanDuel, TVG and Betfair Casino. Paddy Power owns 61% of FanDuel Group, with existing FanDuel investors owning 39%. The deal had been revealed in May of this year.
FanDuel, which is based largely in New York as its main businesses are in America, still maintains a significant presence in Scotland. It grew to become one of two Scots unicorns, with a US$1 billion valuation, alongside Skyscanner.
FanDuel lets its customers make bets on fantasy sports games, centred around the likes of NFL American football and NBA basketball. Paddy Power Betfair chief executive Peter Jackson said, “This combination creates the industry’s largest online business in the US.”
Full Content: Business Wire
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI