European gaming giant Paddy Power Betfair (PPB) and daily fantasy sports company FanDuel announced today that their merger is complete. The companies announced in late May 2018. that they would be combining forces shortly after the sports betting market opened up in the United States.
The timing of the closing is not a coincidence. PPB has made it clear for weeks that it intended to use FanDuel as its primary US brand when it comes to wagering.
Get ready to see FanDuel everywhere
PPB wants to leverage FanDuel’s brand awareness in the United States. As a result, FanDuel branding will appear on most of the US-facing offerings from the new company.
One of the first places you can expect to see this branding will be at the Meadowlands Racetrack in New Jersey. Betfair US partnered with the East Rutherford track soon after the repeal of PASPA in May 2018.
The Meadowlands is only six miles from New York City. Since New York could not pass a sports betting bill, Meadowlands owner Jeff Gural saw an opportunity to bring sports betting to patrons in the New York City area.
Incidentally, as part of its deal with Meadowlands management, Betfair also secured the rights to provide sports betting at Tioga Downs Casino Resort in Nichols, New York. Should New York state legalize sports betting, the new FanDuel Group will already have a foothold there.
TVG partnership gives new company flexibility and opportunity
Because of the merger, FanDuel is now aligned with TVG, the top online horseracing wagering application in the US. TVG’s list of assets includes two television channels with a viewership of 45 million households.
The opportunities for the new company will cover nearly every aspect of the online space. The merger means that you will see the FanDuel name in the following areas:
- Daily fantasy sports
- Sports betting
- Online gambling
- Online horseracing
That combination of spheres of influences means that FanDuel will appear in 45 US states before long. The name recognition and the economic muscle of its parent mean that more deals will arise as sports betting expands in the United States.
“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 U.S. market opportunity in front of us,” said FanDuel CEO Matt King. “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.”