Busy week of mergers and acquisitions in the US

Busy week of mergers and acquisitions in the US

Thursday, July 12, 2018 Posted by Joseph Streeter
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Two key developments were completed this week

The deal between Paddy Power Betfair and FanDuel to create a new operator in the US market has been confirmed.

The merger will enrich the potential online betting experience in the US, forming the largest online sports destination in the country, with a range of products and experiences for all sports fans.

FanDuel CEO Matt King, who will serve as CEO of FanDuel Group, stated: “This is a pivotal time for the sports world in general, and we are poised to build upon our individual successes and join forces to build the best fan experience in the sports industry.”

The new company will operate as FanDuel Group, and will consist of a number of industry-leading brands including FanDuel, TVG Network, Betfair Casino, and DRAFT.

TVG, the top online horseracing wagering business in the US, will play a key role in the combined business as it leverages the FanDuel brand’s broad reach to bring a whole new generation of fans to racing. TVG is the only dedicated US horseracing television network consisting of two channels, TVG and TVG2, which are broadcast daily into over 45 million homes.

It comes in the same week as The Stars Group completed its acquisition of Sky Betting & Gaming. The deal, which is believed to be worth around $4.7 billion, was made possible after Stars Group successfully executed its public share offering raising $622 million in capital for this acquisition.

Rafi Ashkenazi, The Stars Group’s Chief Executive Officer, commented on the deal: “This acquisition represents a pivotal moment in The Stars Group’s evolution. SBG’s mobile-focused sportsbook pairs well with our industry-leading poker offering to create two premier customer acquisition channels. We believe this combination along with our combined online casino offerings positions The Stars Group for continued growth in the evolving online gaming industry.”

“This transaction creates the world’s largest publicly listed online gaming company and unites two iconic brand portfolios with strong technology platforms and teams. This significant scale also positions The Stars Group to both secure and expand upon its global footprint,” concluded Ashkenazi.

Totally Gaming says: The opportunity in the US is continuing to become a more realistic prospect for UK operators. In order to grow a footprint in the region, and expand into States as they become regulated mergers with already established US brands seems like a positive step forward. 

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