The $8.8 billion UK gambling giant that owns Paddy Power and Betfair is considering buying FanDuel

american football celebrationKevin C. Cox/Getty Images

UK-based gambling conglomerate Paddy Power Betfair is considering buying FanDuel, according to multiple reports.
A US ban on sports gambling has recently been struck down, and the acquisition would give the British gambling giant a doorway into the American market.
The terms of the potential deal are not yet clear.

The United States Supreme Court struck down a federal law prohibiting sports betting, and the British gambling giant behind Paddy Power and Betfair wants a piece of the action.

Paddy Power Betfair — valued on the public markets at £6.5 billion ($8.8 billion) —  is close to buying FanDuel, a New York-based fantasy sports company, according to multiple media reports. Business Insider also spoke to a source with knowledge of the deal.See the rest of the story at Business Insider

NOW WATCH: Harvard professor Steven Pinker on 7 trends that show world progress

See Also:

The 10 highest-grossing movies of all time, including ‘Avengers: Infinity War’Meghan Markle is about to prove her dominance over Kate Middleton — and it could be worth up to $1.4 billion to the British economyGap is the latest US company to apologize to China, but at the same time it’s quietly protesting

SEE ALSO: Google and Facebook will be big winners if casinos ‘scorch the earth’ on marketing after the federal ban on sports betting was overturned

Read more:

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top