FanDuel is Broke

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  • marconuts
    SBR Rookie
    • 12-17-17
    • 49

    #1
    FanDuel is Broke
    $76 million In debt LOL
    https://www.google.com/amp/s/www.legalsportsreport.com/20150/fanduel-ceo-sports-betting/amp/
  • RoyBacon
    BARRELED IN @ SBR!
    • 09-21-05
    • 37074

    #2
    That's a lot of debt on the face. But they may be able to have an equity offering now and pay it off?
    Comment
    • jjgold
      SBR Aristocracy
      • 07-20-05
      • 388179

      #3
      fantasy sites terrible
      almost every company bankrupt

      it is a 1 sport business and cannot profit
      Comment
      • SBR Drew
        SBR Hall of Famer
        • 01-08-18
        • 7351

        #4
        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.
        Comment
        • Optional
          Administrator
          • 06-10-10
          • 61396

          #5
          wow. Cheap buy for Paddy.
          .
          Comment
          • semibluff
            SBR MVP
            • 04-12-16
            • 1515

            #6
            Originally posted by jjgold
            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.
            Comment
            • marconuts
              SBR Rookie
              • 12-17-17
              • 49

              #7
              Originally posted by semibluff
              Your Stock Market and Big Business badge will be ready next week.
              Lol
              Comment
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