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 [...]
