Paddy Power Betfair PLC said Wednesday it has agreed to merge its U.S. operations with FanDuel Inc., in a deal that will give Paddy Power 61% ownership of the combined business. The Dublin-based betting company said the deal helps position it for opportunities in the U.S. after a Supreme Court ruling last week opened the door to legal sports betting across the country.

Source: Wall Street Journal May 23, 2018 17:37 UTC