After announcing the signing of a new agreement just a short time ago, Paddy Power Betfair has now completed the merger of their United States businesses with daily fantasy sports giant, FanDuel. The combination of the two companies will see the largest online sports destination created in the US. A range of products and gaming experiences will now be made available for sports fans in the nation.
The announcement of the merger comes just a short time after Betfair US announced a long-term agreement with the Meadowlands Racetrack to be the provider of online, mobile and retail sports betting solutions, subject to legislation. The company will also be the supplier for Tioga Downs of New York. The FanDuel Group will begin their new operations at the Meadowlands as the sportsbook of the venue will be a FanDuel branded facility.
Matt King, the CEO of FanDuel, will serve as the CEO for the new company. Commenting via press release on the new merger, King stated via press release: “The new company embodies the strengths of TVG, Betfair US and FanDuel and brings together the brilliant talent, technological expertise, and shared resources to capture the US market opportunity in front of us,” said FanDuel CEO Matt King, who will serve as CEO of FanDuel Group. “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 now be known as the FanDuel Group and will consist of several brands including FanDuel, Betfair Casino, TVG Network and DRAFT.TVG. With the combined businesses, the new venture will have a presence that spans across 45 states in the US, reaching around 8 million customers.