Rupert Murdoch the media tycoon who controls Fox already has an involvement in FanDuel and Fox Bet through a previous arrangement with the Stars Group prior to their merger with Flutter Entertainment.
Indeed Fox Bet was developed for the media company but has not grown in the way that FanDuel has and now Mr Murdoch wants more of the action in FanDuel.
According to reports the Fox Corporation will increase their stake in FanDuel by some 20% later this year through an agreement with Flutter. Mr Murdoch and his company already is one of the largest stakeholders of the Flutter Group with a 2.5% share of the online gambling firm worth £650 million.
With sports betting in the US growing rapidly and FanDuel being the largest operator in the US already it is clear that Fox Corporation see it as a great opportunity. At present Fanduel is larger by revenues than their second and third placed competitors combined.
FeedConstruct, the global sports data and streaming provider, and the World Baseball Softball Confederation (WBSC),…
Bally's Chicago has halted construction on its hotel and entertainment complex, the project freeze stems…
New York sports betting achieved unprecedented revenue figures in July, sports betting gamblers experienced significant…
FeedConstruct has officially partnered with the Malta Premier League to secure the competition's global betting…
Tabcorp Holdings has announced on Monday that it will acquire BetMakers Techology Group, the B2B…
DraftKings revenue fell 5% year-on-year to $1.44 billion in the second quarter, missing Wall Street's…