Paddy Power leads FTSE higher on USA swoop

Paddy Power leads FTSE higher on USA swoop

The move comes in the immediate wake of a US Supreme Court ruling which this week struck down a federal law that has severely restricting sports betting there since 1992.

Many analysts believe London-listed firms are well placed to grab a slice of the USA market, where some estimates say almost $150bn (£111bn) in illegal wagers are placed every year.

Paddy Power Betfair has confirmed it is in talks to buy or merge with United States fantasy sports website Fanduel as UK betting firms prepare to cash in on the end of a nationwide ban on gambling across the pond.

The Dublin-based company said in the announcement that no deal was certain amid the ongoing negotiations. The decision paves the way for all 50 states to legalize and regulate sports betting through state legislation.

Facebook Rolling Out Stories Archive, Cloud Storage And Audio Posts
WhatsApp Stories now counts 450 million daily active users, while Instagram Stories has racked up 300 million daily active users. It'll automatically save your clips after they expire so that you can view them whenever or choose to re-share them.

FanDuel, a fantasy-sports betting site, was founded in 2009 in Texas, according to its website.

On Monday, following the Supreme Court decision, FanDuel said: "The Supreme Court's decision, which paves the way for states to legalise sports betting, creates an enormous opportunity for FanDuel as our platform, brand and customer base provide a unique and compelling foundation to meaningfully participate". Berenberg Bank downgraded shares of Paddy Power Betfair to a "sell" rating and set a GBX 7,600 ($103.09) price objective on the stock.in a research report on Thursday, January 11th. FanDuel, on the other hand, is a popular U.S. brand with a large number of members, so the deal would put PPB in a position of strength. This is an increase from Paddy Power Betfair's previous dividend of $65.00. Earlier today, the company itself confirmed the rumoured deal, saying that it is now in merger talks with FanDuel.

FanDuel is backed by private equity firm Kohlberg Kravis Roberts, Google Capital and NBC Sports Ventures.

FanDuel grew to become one of two Scots unicorns, with a $1 billion valuation, alongside Skyscanner.

Related News:

  • Preakness Stakes 2018: Justify prohibitive favorite in morning-line odds

    Preakness Stakes 2018: Justify prohibitive favorite in morning-line odds

    Quip (12-1) drew the first post while Lone Sailor (15-1), who finished eighth at Churchill Downs, will go from the second post. Bravazo made his first start on a wet track when sixth in the Kentucky Derby , beaten by eight lengths by Justify .
    Eleven Teams Honored by NCAA for APR Achievement

    Eleven Teams Honored by NCAA for APR Achievement

    I would also like to thank the Morgan Academic Center staff for their efforts in supporting our student-athletes. The most recent multiyear rates are based on the 2013-14, 2014-15, 2015-16 and 2016-17 academic years.
    OnePlus To Launch Limited Edition Avengers-Themed OnePlus 6

    OnePlus To Launch Limited Edition Avengers-Themed OnePlus 6

    The 6 GB RAM variant comes with 64 GB of internal storage whereas the 8 GB RAM variant comes in 128 GB and 256 GB storage options. The secondary rear camera is a 20 MP f/1.7 unit that uses pixel-binning technology to improve the quality of low-light images.
  • California To Appeal Ruling On Life-Ending Drugs

    California To Appeal Ruling On Life-Ending Drugs

    Judge Ottolia denied the group's request for an immediate injunction, but allowed the challenge to move forward in court. Though the ruling might only be temporary, one terminally ill woman at the May 15 hearing was grateful for it.
    Scot Peterson's $8K-plus pension: It pays to be cowardly

    Scot Peterson's $8K-plus pension: It pays to be cowardly

    Fathers of two of the victims of the Parkland shooting expressed their disgust over Peterson's generous pension on Twitter . Scot Peterson maintained that he believed the gunshots were coming from outside the school. "Allegations that Mr.
    Photo of college graduate wearing AR-10 rifle goes viral

    Photo of college graduate wearing AR-10 rifle goes viral

    And though this policy may be well-intentioned, Bennett says that it suggests that students are less deserving of protection. Therefore, she doesn't qualify as a student or a third party "doing business with the university".
  • Ebola outbreak in Congo spread from countryside into city

    Ebola outbreak in Congo spread from countryside into city

    It can spread rapidly through contact with small amounts of bodily fluid and its early flu-like symptoms are not always obvious. Oly Ilunga Kalenga said a case of the virus was detected in Mbandaka, a city with a population of about 1 million people.
    German national coach springs surprise ahead of World Cup

    German national coach springs surprise ahead of World Cup

    Germany are placed in Group F along with Mexico, Sweden and South Korea and will take on Mexico in their opening game on June 17. While Goetze misses out, coach Joachim Loew pulled a surprise by handing Freiburg striker Nils Petersen a first call-up.
    California couple waterboarded kids, authorities say

    California couple waterboarded kids, authorities say

    Rogers told KABC-TV that she and her husband were being judged for his tattoos, and her choice to homeschool her children. A California father charged with torturing his children was charged with domestic violence in 2011.
  • Florida teacher on leave after raccoons drowned

    Florida teacher on leave after raccoons drowned

    It still does make me sick to my stomach", said the student's mother, who wanted to remain anonymous. She said her child came home in tears and was yelling and angry over what happened to the animals.
    Katz: sanctions against the leadership of Hezbollah - the right step

    Katz: sanctions against the leadership of Hezbollah - the right step

    Embassy in Jerusalem has enraged the Palestinian Authority, as well as militant group Hamaz, which has ties to Iran and Hezbollah. It is comprised of 12 members who are tasked with making the group's tactical decisions and oversee its activities countrywide.
    Youtube will start crediting musicians properly in their videos

    Youtube will start crediting musicians properly in their videos

    That being the case, the implementation of " Music in this Video " is still a net positive for all those concerned. With its " Music in this video ", YouTube is hinting that both sides can help each other out.


Most liked

Chandigarh Ranked as 3rd Cleanest City in India | Swachh Survekshan 2018
This time, the Union Ministry of Urban Development survey was conducted in 4,200 cities, covering a population of 40 crore. The results of sanitation survey announced by housing and urban affairs minister Hardeep Singh Puri yesterday.

WB Panchayat results: TMC takes lead, BJP second; counting underway
From the nomination stage to the day of polling, where was the spirit of democracy? It was nothing but a murder of democracy. Widespread violence during the panchayat polls in West Bengal on Monday left at least 12 people dead and 43 injured.

Atletico Madrid Win Third Europa League Title
Just being in this final was an achievement for Garcia's team, but they will look back on the evening with regrets. This [final] was a very important game, as it allowed us to keep up at the top level.

SC collegium defers reiteration of Justice Joseph's elevation to top court
The Supreme Court collegium has again deferred a formal decision on sending the file relating to the elevation of Justice K.M. An apex court official said that no decision has been taken as to when the recommendation will be sent to the Centre.

Coli update: You can now safely eat romaine again
The CDC added that the last date of harvest for the romaine lettuce from the Yuma growing region was April 16th. Do not eat or buy romaine lettuce unless you can confirm it is not from the Yuma growing region.

Apple demands United States dollars 1 billion from Samsung for patent infringement
Lee showed the jury a series of Samsung phones released before, shortly after and years after the iPhone's debut in 2007. It argued that consumers had not bought the phones for their aesthetics alone, but also their functionality.

Pope Francis expresses concern over escalating violence in Middle East
I express my great pain for the dead and wounded and I am close to all who suffer with my prayers. Calling for "dialogue, justice and peace", Francis said violence "has never led to peace".

Bama, Longhorns agree to play home-and-home series in 2022-23
The Buckeyes will travel to Austin on August 30, 2025, and the Longhorns will travel to Columbus, Ohio on September 5, 2026. Alabama and Texas will play a home-and-home series in 2022 and 2023, the schools announced Wednesday.

Whitney Houston Documentary Shocks Audience at Cannes With Child Abuse Revelation
Houston was sexually abused as a toddler by a Dionne Warwick's youthful sister, relations have claimed in a brand new documentary. Whitney , which is directed by the Scottish film-maker Kevin Macdonald , premiered at the Cannes film festival on Thursday.

Liverpool Boss Jurgen Klopp Excited By Mohamed Salah Potential
The more trophies I've won at the end of the season, the better, and obviously with the national team, which is something I still don't have".

The birth of a Legend: Chrissy Teigen announces second baby's arrival
Chrissy Teigen and her husband, John Legend have welcomed their baby boy! She had said: "I'm having a baby boy in the spring". Legend then re-tweeted his wife's announcement, but they did not shared any further details about their new family member.

Senate passes bill to reinstate net neutrality
The CTIA, USTelecom and the NCTA earlier sent a joint letter to senators asking them to vote against the measure. The FCC repeal initially went into effect on April 23, 2018, but nobody felt the real effect of it all.

Filmmakers protest in solidarity with Palestine at Cannes
Telling reporters back in 2017 that found the rules outdated Stewart has been vocal about dressing the way she pleases. Cannes is renowned for attracting the world's most lovely people for a week of breathtaking red carpet moments.

National Basketball Association won't discipline Smith for shove
James was also astoundingly efficient, using his dribble to create space, while he knocked down an assortment of jump shots. After the game, the TV station rubbed it in to the Cleveland Cavaliers , running a "Most Useless Cavaliers" segment.

Man killed by exploding e-cigarette in US
Tallmadge D'Elia was vaping at home on May 5 when the vaping device, manufactured by Philippines-based Smok-E Mountain, exploded. Deputy fire marshal Steven Lawrence, who attended the incident told Fox6: "It's like having a small.firecracker in your hand".