$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?
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jjgold
SBR Aristocracy
07-20-05
388179
#3
fantasy sites terrible
almost every company bankrupt
it is a 1 sport business and cannot profit
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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.
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Optional
Administrator
06-10-10
61396
#5
wow. Cheap buy for Paddy.
.
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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.
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marconuts
SBR Rookie
12-17-17
49
#7
Originally posted by semibluff
Your Stock Market and Big Business badge will be ready next week.