FanDuel is Broke

[marconuts]

$76 million In debt LOL
https://www.google.com/amp/s/www.legalsportsreport.com/20150/fanduel-ceo-sports-betting/amp/

[RoyBacon]

That's a lot of debt on the face. But they may be able to have an equity offering now and pay it off?

[jjgold]

fantasy sites terrible
almost every company bankrupt

it is a 1 sport business and cannot profit

[SBR Drew]

Update...Just a week after the Supreme Court cleared the way for states to legalize sports betting, Ireland-based gaming company Paddy Power Betfair agreed to acquire daily fantasy company FanDuel.

Under the agreement, Paddy Power will merge its U.S. assets with FanDuel and provide a further $158 million in cash. The capital will allow FanDuel to pay down its existing debt of $76 million.

In terms of the ownership structure, Paddy Power will own 61% of the combined entity, and it has options to increase its ownership to 80% after three years and 100% after five. The deal reportedly values the combined business at more than $1 billion.

[Optional]

wow. Cheap buy for Paddy.

[semibluff]

fantasy sites terrible
almost every company bankrupt

it is a 1 sport business and cannot profit

Your Stock Market and Big Business badge will be ready next week.

[marconuts]

Your Stock Market and Big Business badge will be ready next week.

Lol