Paddy Power signs deal with US casino group Boyd | City A.M.

Paddy Power has struck a deal with US casino group Boyd Gaming, which will expand is subsidiary FanDuel into the States following a landmark Supreme Court ruling earlier this year.

Under the agreement, FanDuel will gain market access for its sports book and online gaming products in several states and will provide Boyd Gaming with technology and related services to operate Boyd Gaming-branded mobile and online sports betting and gaming services.

The deal will take FanDuel into a further 12 states, on top of New Jersey, New York and West Virginia, where it already has existing market deals.

As part of the transaction, Boyd Gaming will also take a four per cent equity stake in FanDuel Group and have an option to purchase a further one per cent stake.

In May the Supreme Court cleared the way for states to legalise sports betting, striking down a 1992 federal law that had prohibited most states from authorising such activity.