To summarize, PPB would provide investment and sports betting technology, pricing models, risk and trading expertise and by joining up a US business, it will follow regulatory requirements. PPB would keep the majority stake in the business. What’s more is that Fan Duel has declined to comment, and yet, the structure of the potential deal is clear.įor the most part, the intention is to combine PPB’s existing US business and FanDuel. All and all, the discussions are ongoing, and nothing is certain as of now. In essence, they believe that the players of today are the customers of tomorrow. The deal aims to recruit younger customers. In fact, they announced they’re discussions to get a majority stake in FanDuel.

Combined business in hope for a better tomorrow!Īs you know, PPB is boosting its presence in the US. In short, with this deal PPB hopes to convert Fantasy League players into real sports betting customers. Indeed, in a recent press release Paddy Power Betfair (PPB) a well-established brand just confirmed a potential bid to buy FanDuel which is as you know a company that has interest in Fantasy sports. What do you get? A great deal between 2 giants, of course! And finish it off with a database of sports-loving US customers which is almost worth $6m. Then, add an award-winning technology platform. Success in the US market may help quell a proxy rebellion brewing among shareholders regarding a proposed 26% basic salary hike for Jackson and a 20% increase to chief financial officer Jonathan Hill.First, take a well-recognized US brand. There’s significant increases that customers are having to stomach around energy and a number of other items, and the extent to which that impacts our business, we’ll have to see.”įlutter shares were up more than 5% in early trading today He added: “There’s no doubt that the cost of living will impact customers expenditure. Peter Jackson, CEO of Flutter Entertainment, said: “The frequency with which customers are engaging on the platform in what we would describe as the ‘covid unwind’, where with the UK in lockdown customers increased their frequency of engagement, that’s now moderated and come back again to the levels that we had seen previously pre-Covid.” In the UK and Ireland, Flutter reported a 15% rise in average monthly players to 3.63 million but revenue slipped 20% to £453 million as the end of pandemic restrictions led to weaker demand for recreational games and sports betting. Growth came from “recreational player momentum” as the number of average monthly players grew by 15% to 8.85 million. The group itself recorded revenue growth of 6%, rising to £1.57 billion in the first quarter.

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