Paddy Power to buy New York-based fantasy sports site

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Paddy Power Betfair plc, together with its subsidiaries, provides online interactive sports betting services in the United Kingdom, Ireland, Australia, the Unites States, and internationally.

Gambling firm Paddy Power Betfair has said it is in talks over a merger in the USA with fantasy sports site Fan Duel.

No further details, including any financial details, were given and the group said that it would issue a further announcement "as appropriate". New Jersey had challenged lower courts' rulings that the state could not authorize sports wagering, leading to the Supreme Court case. It is backed by the likes of Kohlberg Kravis Roberts, Google Capital and NBC Sports Ventures.

FanDuel got its start at the 2009 SXSW Interactive festival - right there in that backyard - when our founding team chose to focus their efforts on changing the game in fantasy sports.

In 2017, FanDuel had planned to merge with rival DraftKings, but it was called off after the US Federal Trade Commission (FTC) said it would oppose the merger.

The company which operates from about ten years now offers a great variety of DFS to US customers and has already confirmed its willingness to enter the sport betting market of the country following the US Supreme Court ruling a couple of days ago. The Government is expected to cut the maximum stake for fixed-odds betting terminals to £2 from £100, with betting firms set for a profits hit as a result of the change.

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