United States – In the battle for who will dominate the burgeoning online sports betting market in the coming years, FanDuel/Paddy Power (doing business as “Flutter”) have purchased the Stars group. The Stars group brand consists of Poker Stars, BetStars, Full Tilt and others.
The deal is worth an estimated $6 Billion. The two companies combined will now serve over 100 countries. Their revenue will be around $4B per year. Both companies are publicly traded and will now be merged.
In the US, anything related to BetStars is now FoxBet. This is a joint venture between media giant Fox and The Stars Group. This manifestation is already operating in New Jersey. In five years time you may be seeing Foxbet or FanDuel in up to 2/3 of all U.S. states. Both platforms will exist separately but are owned by the same entity.
This is shaping up to be a bigger, more pumped up version of the already established battle between FanDuel and Draftkings. Both companies have been maneuvering aggressively to become the number one fantasy provider in the U.S. for years and now are doing so with sports betting.
It would appear that with this latest acquisition and deal with Fox, that FanDuel has the edge.
