Paddy Power Betfair completes US merger with FanDuel

Paddy Power Betfair confirmed on Wednesday that the previously-announced combination of its US business with FanDuel, initially announced on 23 May, completed on 10 July.

The FTSE 100 bookmaker said the new company would be called FanDuel Group, and would operate a portfolio of brands including FanDuel, TVG, Betfair Casino and DRAFT.

“The group owns 61% of FanDuel Group, with existing FanDuel investors owning 39%,” Paddy Power Betfair’s board explained in its short statement.