eSports
Paddy Power Betfair to acquire FanDuel
Paddy Power Betfair plans to merge its U.S. business with FanDuel, a fantasy sports company. This move is ostensibly to target the U.S. sports betting market.
A U.S. Supreme Court ruling on Monday paved the way for states to make sports gambling legal after it struck down a 1992 federal law that had barred gambling in most places.
Paddy Power revealed that discussions with FanDuel are continuing and there was no certainty as to whether an agreement would be reached.
Paddy Power shares, which rose sharply after the U.S. Supreme Court ruling, were up 5.4 per cent at 0815 GMT.
Firms like Paddy Power Betfair are looking for growth opportunities to offset the increasing cost of regulation in established markets such as Britain and Australia.
Paddy Power Betfair runs the leading U.S. horse racing television and betting network and has an online casino business in New Jersey which contributed $140 million or around 6 percent of its revenue last year.
It entered the U.S. fantasy sports market last year with a $48 million acquisition of early-stage operator DRAFT.
FanDuel was part of merger discussions last year with rival DraftKings but that plan was scrapped after a legal challenge by the U.S. Federal Trade Commission over fears that the combined company would control more than 90 percent of the U.S. market for paid daily fantasy sports contests.
Leading fantasy sports companies have faced regulatory challenges in several states and scrutiny by officials who question whether paid daily games amount to gambling.
FanDuel was valued at more than $1 billion before the crackdown began. Legal Sports Report (LSR), which first reported that Paddy Power Betfair was close to completing the deal, said it appeared likely to be below that valuation.
Analysts at Davy Stockbrokers said the deal would hand Paddy Power Betfair an extremely well recognised U.S. brand, an award-winning technology platform that can be converted to offer real money betting and a database of over 6 million U.S. customers.
FanDuel would gain access to Paddy Power Betfairās pricing models, risk and trading expertise, potential distribution via its U.S. businesses and expertise in cross selling, they said.
Ā āFor both sides, a deal would make a huge amount of sense strategically and on the face of it, an amalgamated business would represent a powerful combination in the U.S. sports betting market,ā Davy analysts wrote in a note.
Modern fantasy sports started in 1980 and have exploded online through a faster, daily version of the season-long game where participants draft teams for a single game, enabling them to spend money on contests more frequently.
Source: reuters.com
eSports
North Star Network acquires Um Dois Esportes
North Star Network are delighted to announce the acquisition of umdoisesportes.com.br, which becomes the latest addition to NSNās global sports media portfolio.
Born from the GRPCOM merger of the editorial teams of Gazeta Do Povo and Tribuna do ParanĆ” in 2020, Um Dois Esportes provides in-depth sports coverage and analysis for the Brazilian state of ParanĆ” and beyond.
North Star Network co-founder Julien Josset said: āThank you to the team at GRPCOM for their faith in us to take the brand forward. Um Dois Esportes is an established and renowned site in ParanĆ” State, and weāre excited about the challenge of developing this asset.ā
āWeāre happy to maintain the collaboration with the existing editorial team, and look forward to working with them, bringing our unique NSN approach, to take UDE forward.ā NSNās signing of Um Dois Esportes is the media houseās fourth acquisition of 2024, following the recent deals to purchase UK-based SportsMole and MrFixitsTips, as well as Chilean site AlAireLibre, which was announced in March.
The latest addition to the North Star media portfolio joins existing assets including Top Mercato, Afrik-Foot, and Vringe. The Paris-based company already oversees a significant Brazilian operation, delivering over 6 million sessions per month, from the likes of Trivela, Premier League Brasil and Lakers Brasil.
NSN will retain Curitiba-based journalists from the Um Dois Esportes legacy team to maintain the assetās unique tone and popular coverage of the ParanĆ” sports scene across site and social.
āWe were surprised by the interest, and initially had no intention of selling Um Dois, but as the conversations evolved, we realised this was a serious group with good intentions,ā said GRPCOM Director Rafael Mello. āWe were very happy to see our project being valued by a large international group and going global, demonstrating the quality of the content we produced.ā
āWeāre also proud that North Star inherited our journalists, who are truly responsible for the success of the product we offer readers every day.ā
eSports
GIANTX Promotes LVP Superliga Toplaner Th3Antonio to the League of Legends EMEA Championship Roster
Today, GIANTX is excited to announce an update to its LEC competitive roster. Antonio”Th3Antonio” Espinosa Bejarano is recognised as one of the most successful LVP Superliga players in the history of GIANTX, and he has now reached a pivotal moment in his career to compete in the League of Legends EMEA Championship (LEC).
The LEC is the most important League of Legends competition in Europe and one of the most relevant in the international esports scene. The Barcelona-born ‘toplaner’ will be part of the lineup kicking off the LEC Summer split season in Berlin, which starts in June. As the community quotes; ‘Th3LEC’ is finally a reality.
Commenting on his new role, Th3Antonio said:
“This is the dream I’ve been working towards since I entered esports. I always wanted to compete at the highest level to face the best, and finally, I have this opportunity. I never stopped striving, and thanks to that and the work we’ve done together with all my teammates, we’ve achieved great things in Spain, but the LEC has always been my ultimate goal. Going to the LEC with my lifelong club, GIANTX, is a double dream. Everyone knows what GIANTX means to meā.
Sports Director at GIANTX, David Alonso, added:
“Th3Antonio deserves this opportunity, both in recognition of the level heās at and all the work he has put in over the past few years. We are convinced of this decision and that he will give everything to succeed in the LEC. He has always been characterised by sacrificing himself for others, and lately, he has taken a step forward by leading in crucial moments, a clear sign of his maturity as a playerā.
Having joined at a young age in 2017, Antonio ‘Th3Antonio’ Espinosa has become one of the most decorated players of the LVP Superliga and of GIANTX history. During his time with the team, he has won four Superliga titles, two Iberian Cups, one Copa, and has reached an EMEA Masters final, as well as other national competitions.
The decision to promote Th3Antonio reflects GIANTX’s need to implement changes following the results of the LEC Winter and Spring split seasons. In both splits, the team fell short in the first round of playoffs. The Summer split season is the main shot at Worlds for all teams, and the aim of the club was to make the necessary changes to achieve this goal. After a period of reflection and numerous trials, Th3Antonio has been chosen for the toplaner position.
eSports
L&G esports team founded by Alona Shevtsova won the national Dragon EC Cup tournament
Ukrainian esports team L&G won the Dragon EC Cup tournament, held on the 20th of April by Dragon Esports Club. Four teams competed in the tournament’s final: Lazer Cats, L&G, which received a direct invitation to the final stage, EsportsBattle, and ThunderFlash, which had open qualifiers. During the Grand Final, the L&G team competed with Lazer Cats on Mirage, Anubis, and Vertigo maps.
“This victory is a testament to the exceptional talent and commitment of our players, as well as the collective effort of our coaching staff and support personnel,” said Alona Shevtsova, founder of L&G Esports. “We are immensely proud of their accomplishments and grateful for the unwavering support of our fans.”
L&G is among the top 5 Ukrainian teams in Counter-Strike: Global Offensive. It was founded in 2021. The previous name was Leogaming, and it was created on the initiative of the famous Alona Shevtsova from the fintech sector.
The team began competing in top tournaments and almost immediately made it to the Advanced division of the ESEA League Europe competition. The team also participated in and took prizes in European tournaments such as the SCL League, WhiteBit Crypto Open, Phoenix League, and local competitions. The team players are marat2k, r0ublE, kr1vda, kL1o, OneUn1que, rji (coach).
The winners received a 50,000 UAH prize. Dragon Esports Club also prepared a 15-skin giveaway for the broadcast’s viewers.
It is worth mentioning that the L&G team created its merch items, which are available for order worldwide. To get more information about the team, visit the L&G Instagram page, Twitch, or Telegram Channel.
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