Gambling giant Paddy Power Betfair announced Wednesday that it would merge its US operations with fantasy sports operator FanDuel in a bid to expand its US footprint and place itself in a better position for the upcoming legalization of sports betting across different states. Paddy Power Betfair’s US assets are valued at $612 million. The company said that it would contribute these as well as $158 million in cash to assume control over 61% of the newly combined business. FanDuel’s current owners will own 39% of it, once the transaction…
Read MorePaddy Power Betfair Readies for US Sports Betting with FanDuel Acquisition
