Tag Archives: FanDuel

Paddy Power Betfair gains US DFS presence with $48 million acquisition of DRAFT mobile

In a move to expand its corporate footprint within the US market, FTSE100 betting firm Paddy Power Betfair (PPB) has confirmed that it has agreed to acquire US mobile-focused fantasy sports operator DRAFT for a deal valued at $48 million (£37 million). Entering the US DFS market, PPB will initially pay $19 million for all DRAFT related assets and resources, …

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DraftKings raises further $100 million through Eldridge Industries LA

Bloomberg USA has reported that daily fantasy sports (DFS) operator DraftKings has raised a further $100 million (£84 million) in venture financing led by Los Angeles VC fund Eldridge Industries. The  VC fund which is headed-up by Los Angeles Dodgers MLB franchise owner Todd Boehly joins DraftKings’ portfolio of 17 core investors (https://www.crunchbase.com/organization/draftkings#/entity ) To date, DraftKings has raised approximately …

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Trump boosts prospect of legalised sports betting in the US

sports betting - Copyright: actionsports / 123RF Stock Photo

The President of the American Gaming Association (AGA) has expressed his belief that Donald Trump taking office could lead to a repeal of federal law barring sports betting in most US states. Speaking in his year-end conference call, Geoff Freeman referenced Trump’s appearance on the Fox Sports show a year ago, in which the incoming US president made the following comments …

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Riccardo Mittiga: DraftKings and FanDuel merger opens doors

Last week’s merger between DFS giants DraftKings and FanDuel was the first major piece of consolidation in the fantasy sports arena. But what are the implications in Europe? Riccardo Mittiga, CEO of ASAP ITALIA and founder of DFS operation Sportito believes that there are huge opportunities now for a nimble operator. SBC: DraftKings and FanDuel have finally merged – was …

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Juniper study predicts DFS consumer spend will double by 2021

A new study from Juniper Research has predicted that consumer spend on daily fantasy sports (DFS) will double from $2.6 billion in 2016 to $5.3 billion by 2021. Juniper also anticipates that FanDuel and DraftKings, two companies that were referenced in the study and represent a combined 90% market share, will merge imminently to consolidate their dominance. North America continues …

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Premier Punt takes crowdfunding approach for £200,000 development

Premier Punt, the Aberdeen based DFS (Daily Fantasy Sports) challenger, has turned to the crowdfunding site Seedrs in a bid to raise £200,000 in funding for product development. The firm, which has been shortlisted for next month’s SBC Awards in the category of Best Fantasy Sports Product, made the jump from a web-based game to a soft launch of its …

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FanDuel & DraftKings stakeholders agree on merger

Tech business news sources are reporting that leading US daily fantasy sports operators FanDuel and DraftKings are reaching a conclusive agreement with regards to a merger. Since October, the governances of the DFS operators have been in ‘fast track’ discussions with regards to creating an outright market-leading enterprise. On Wednesday, former ‘Fortune’ finance editor Dan Primack revealed that according to …

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FanDuel & DraftKings fast track merger plans

US tech news sources are reporting that FanDuel and DraftKings are fast tracking merger plans, with their corporate governances ‘hammering out’ combined enterprise details for stakeholders and investors.   Last weekend, news broke that FanDuel and DraftKings governances had entered initial merger negotiations. Nevertheless, industry commentators quickly pointed to the pairs’ fraught relationship following years of hostile battle for outright …

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