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Photo illustration by Scott Olson/Getty Images

European online gaming company Paddy Power Betfair confirmed that it is in talks to acquire FanDuel, one day after the U.S. Supreme Court struck down a federal ban on sports gambling.

Why it matters: At the same time that gaming regulations seem to be easing in the U.S., they've been increasing in overseas markets like Britain.

Instant replay: FanDuel previously had been working to go public via a reverse merger with Platinum Eagle Acquisition Corp., a special purpose acquisition company formed earlier this year by veteran media executive Jeff Sagansky.

  • The New York-based company had raised $435 million in VC funding from firms like KKR, NBC Sports, Shamrock Capital Group, Comcast Ventures and the NBA.
  • It had been valued at $1.2 billion, per terms of a planned 2017 merger with DraftKings that was scuttled by U.S. antitrust regulators.

This would be the second U.S. daily fantasy sports purchase for Paddy Power Betfair, which last year paid $48 million to acquire Draft. No word yet on how much Paddy Power might pay, but a source puts the discussed price tag at between $600 million and $700 million.

A FanDuel spokeswoman yesterday declined comment.

Go deeper

Updated 1 hour ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

Tina Reed, author of Vitals
1 hour ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.

Scoop: Over 200 papers quietly sue Big Tech

Illustration: Allie Carl/Axios

Newspapers all over the country have been quietly filing antitrust lawsuits against Google and Facebook for the past year, alleging the two firms monopolized the digital ad market for revenue that would otherwise go to local news. 

Why it matters: What started as a small-town effort to take a stand against Big Tech has turned into a national movement, with over 200 newspapers involved across dozens of states.