Paddy Power Betfair, Fanduel Complete U.S. Business Merger
Paddy Power Betfair and FanDuel confirmed they completed their previously announced merger, combining Paddy Power Betfair’s U.S. businesses with FanDuel. The combination creates the largest online sports destination in the U.S., with a range of products and experiences for sports fans. The announcement comes after Betfair US announced a long-term agreement to provide online, mobile and retail sports betting products at Meadowlands Racetrack in New Jersey and, subject to legislation, Tioga Downs in N.Y. FanDuel Group will launch its first FanDuel-branded retail sportsbook at the Meadowlands Racetrack in the coming weeks. FanDuel also partnered with The Greenbrier Resort in West Virginia to provide sports betting services earlier this month. The new company will operate as FanDuel Group and will consist of a number of brands including FanDuel, TVG Network, Betfair Casino and DRAFT. TVG, the top online horseracing wagering business in the U.S., will play a key role in the combined business as it leverages the FanDuel brand’s broad reach to bring a new generation of fans to racing (Paddy Power Betfair).