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Paddy Power Betfair moves into DFS market with Draft acquisition

10th May 2017 8:14 am GMT

Paddy Power Betfair is entering the US daily fantasy sports (DFS) market through the acquisition of early-stage mobile-focused operator Draft.

The London-listed company has paid an initial USD$19m cash consideration for Draft, with up to a further $29m payable depending on the performance of the business over the next four years.

The DFS operator's co-CEOs Jeremy Levine and Jordan Fliegel will continue to run the business.

They will be supported by Paddy Power Betfair's strength in marketing and technology, although [...]

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