Thursday, 15 November, 2018

Peel Hunt Reaffirms Reduce Rating for Paddy Power Betfair (PPB)

Paddy Power Betfair said it is in discussions to buy US fantasy sports site FanDuel Paddy Power Betfair said it is in discussions to buy US fantasy sports site Fan Duel
Jean Garcia | 16 May, 2018, 17:03

Reports emerged in the media yesterday that a deal was close, though the bookmaker stated in response that "discussions are ongoing and there is no certainty as to whether agreement will be reached, or as to the terms or timing of any transaction".

No further details, including any financial details, were given and the group said that it would issue a further announcement "as appropriate".

On Monday, the US Supreme Court ruled that a ban of sports betting is unconstitutional, paving the way for the individual states to legalize sports gambling.

Under New Jersey's sports-betting laws, only casinos and racetracks will be able to take bets on sports.

FanDuel, founded in Edinburgh, is backed by the likes of Kohlberg Kravis Roberts, Google Capital and NBC Sports Ventures.

At 70 per cent turnout, Karnataka's on a high
The election to the Jayanagara seat in Bangalore was countermanded following the death of the sitting MLA and BJP candidate, B.N. The voting in the single-phase poll in the state took place on May 12 and the counting of votes is scheduled for tomorrow.

Players choose which contest they want to enter, build fantasy sports teams that do not breach a fantasy salary cap, and engage in head-to-head or multi-player contests.

Paddy Power-Betfair confirmed the talks two days after the U.S. Supreme Court struck down a 1992 federal law prohibiting states from authorizing sports wagering.

FanDeal and another rival, DraftKings, held merger talks but plans were called off after the US Federal Trade Commission opposed the deal.

The move offers a potential lifeline to United Kingdom bookmakers, which are braced for the imminent outcome of a review into so-called fixed-odds betting terminals that is expected to slash the maximum stake punters are allowed to bet.

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