It has a leading market share in states such as New Jersey and Pennsylvania with mature online betting, as well as newer states like Michigan and Virginia.įlutter is expected to spin off FanDuel at some point in 2022, though nothing has been confirmed. In the first six months of 2021, in the 10 states where it had sports betting online, Flutter had 31% of the market, with its sports betting share at 45% and online gaming at 20%. In 2019, Paddy Power Betfair changed its name to Flutter Entertainment, but as you can see, it retained the PDYPY ticker that trades over-the-counter. Paddy Power shareholders got 61% of the merged entity with options to increase the ownership to 80% and 100% over time. assets plus $158 million in cash to the deal, some of which was used to pay down FanDuel's debt. operations in 2018 after a potential merger with DraftKings ( DKNG) was called off due to regulatory concerns. 'We are delighted to make that combination official by pairing America's #1 sportsbook with America's #1 sports league.'įanDuel merged with Paddy Power Betfair's U.S.

'On Superbowl Sunday, we got a glimpse at how powerful the combination of the NFL's excitement and our platform can be in delivering an enhanced fan experience,' outgoing FanDuel CEO Matt King said when the deal was announced. sportsbooks to partner with the NFL this year. Analysts' average long-term (LT) earnings growth rate: N/Aįlutter Entertainment's ( PDYPY, $106.15) FanDuel subsidiary was one of a handful of U.S.

Sports betting industry companies