Belfast Telegraph

States legalising betting key to bookie's US growth

By John Mulligan

Paddy Power Betfair believes profits from its US division could hit $600m within a number of years if more states legalise sports betting.

Davy Stockbrokers said that the US is "potentially very valuable" for the group, but warned that the pace of regulatory changes there will be a key driver for Paddy Power Betfair.

Paddy Power Betfair merged its US business last year with American firm FanDuel, founded by Co Tyrone man Nigel Eccles, taking a 61% stake in the combined entity and giving it access to about eight million customers.

It's hoping that more states will legalise sports betting, with seven having so far done so.

Belfast Telegraph