'Together with our substantial financial firepower, we believe we are now well placed to target the prospective U.S. 'This combination creates the industry's largest online business in the U.S., with a large sports-focused customer base and an extensive nationwide footprint,' said Jackson.

Paddy Power Betfair CEO Peter Jackson alluded directly to the SCOTUS sports betting ruling in his statement about the acquisition. Paddy Power Betfair will operate the combined business, with the deal expected to close by the end of September pending regulators' approval. The agreement further stipulates that Paddy Power Betfair has the option to increase its stake to 80 percent after three years and 100 percent after five years.

assets worth $612 million along with $158 million of cash to take a 61 percent stake in the combined business, with existing FanDuel investors owning 39 percent.' In an agreement announced Wednesday, 'Paddy Power Betfair will contribute its existing U.S. business with the daily fantasy sports site FanDuel, Reuters reports. Supreme Court that the federal ban on states being able to offer sports betting was unconstitutional, Dublin-based gambling firm Paddy Power Betfair this week agreed to merge its U.S. In the wake of last week's big decision by the U.S. Paddy Power Betfair Acquires DFS Site FanDuel This week's installment of Inside Gaming begins with news of a Dublin-based gaming firm's acquisition of a daily fantasy sports site, reports on a possible impending strike by Las Vegas workers, tells of legislation in Louisiana regarding its riverboat casinos, and looks in on an Indiana casino opening a new gaming room on land.

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