Paddy Power Betfair confirms FanDuel talks

Paddy Power Betfair has confirmed reports that it has opened discussions over the potential acquisition of daily fantasy sports (DFS) company FanDuel.

This week, reports linked Paddy Power Betfair with a move for the DFS operator in the wake of the US Supreme Court voting to overturn a federal ban on sports betting in the US.

FanDuel had previously spoken about its plans to launch a sports betting service should the Supreme Court overturn the federal 1992 Professional and Amateur Sports Protection Act (PASPA), which blocked most US states from offering regulated sports betting.

Paddy Power Betfair said that should it reach an agreement with FanDuel, it could merge its own US business and the DFS brand to “create a combined business to target the prospective US sports betting market”

In a statement, Paddy Power Betfair added: “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.

“A further announcement will be made as appropriate.”

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