Davy Research

Gaming

Merger talks between DraftKings and FanDuel terminated
Gaming
Paddy Power Betfair | GAN | William Hill plc | Ladbrokes Coral Group plc

DAVY VIEW

News that the two largest daily fantasy sports operators have decided to terminate merger talks will not come as much of a surprise in light of the recent Federal Trade Commission (FTC) announcement that it would block such a deal. The question now is whether both operators can survive as standalone entities or whether they will effectively put themselves up for sale. Should both survive, competitive intensity in the market will be greater than had the merged entity had 90%+ share of the market.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • GAN

    Closing Price: 2500p

  • RATING 05/11/14

  • PREVIOUS RATING 12/02/14

    Under Review

  • Ladbrokes Coral Group plc

    Closing Price: 11280p

  • RATING 18/04/17

  • PREVIOUS RATING 28/07/15

    Neutral

  • William Hill plc

    Closing Price: 25000p

  • RATING 13/02/14

  • PREVIOUS RATING 16/02/11

    Outperform

  • Paddy Power Betfair

    Closing Price: 781000p

  • RATING 18/09/15

  • PREVIOUS RATING N/A

Analyst(S)

Gaming

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