FanDuel Owner to Become Largest Gambling Company in $6 Billion Deal, Targets U.S. Sports Betting Market

Flutter Entertainment PLC, the owner of Paddy Power and FanDuel, announced a $6 billion deal to purchase The Stars Group Inc. (TSG) and become the world’s largest online gambling company. Flutter, an Irish gambling conglomerate, owns gambling websites Paddy Power and Betfair, in addition to sports betting websites FanDuel, Sportsbet, and TVG. Meanwhile, Canadian company TSG owns the world’s largest poker website, PokerStars, as well as BetStars and Full Tilt Poker. The combined value of the companies is approximately $12 billion. Further, the combined…
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FTC Pressure Forces DFS Giants to Cancel Merger Plans

Last November, FanDuel and DraftKings announced their plan to merge, and sought to combine the two largest operators of paid fantasy daily sports. The agreement came amidst scrutiny from several state attorneys general and other regulators over the legality of daily fantasy sports. On July 13, 2017, the two daily fantasy sports giants announced they would no longer pursue their plan to join forces. The most recent announcement came after the FTC filed a lawsuit against DraftKings and FanDuel in June, saying the two…
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