Paddy Power Betfair in talks to buy FanDuel after US sports betting ruling

Paddy Power Betfair in talks to buy FanDuel after US sports betting ruling
 

Paddy Power Betfair has made the first move in an expected wave of takeover activity prompted by the legalisation of sports betting in the US, as it launched a bid for fantasy sports league company FanDuel.
Shares in UK gambling companies soared earlier this week as investors responded to the US supreme court’s decision to overturn a law known as PASPA, a ban on sports bets that had stood for 26 years.
Many analysts believe London-listed firms are well placed to grab a slice of the US market, where some estimates say nearly $150bn (£111bn) in illegal wagers are placed every year.
While US... read more

 
16 May 2018 in Business, Views: 87
Source: Guardian
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