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Paddy Power Betfair completes merger of US business with FanDuel

11th July 2018 8:28 am GMT
FanDuel

London-listed Paddy Power Betfair (PPB) has completed the merger of its Betfair US business with daily fantasy sports operator FanDuel.

PPB controls 61 per cent share of the new company, which will be known as FanDuel Group, with existing FanDuel investors owning the remaining 39 per cent.

FanDuel Group will operate a portfolio of brands including FanDuel, TVG, Betfair Casino and DRAFT.

The completion follows the signing of a definitive agreement between the two companies in May, with PPB [...]

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