Paddy Power Betfair names FanDuel chief Matt King as US group CEO
Combined firm to be renamed FanDuel Group with Kip Levin appointed as COO
Current FanDuel CEO Matt King will be the chief executive of the combined FanDuel/Paddy Power Betfair business when the deal closes, EGR can confirm.
Staff were informed of the appointment in an internal email sent out this week, with King set to be based in New York.
He will lead the combined company, which will also be renamed FanDuel Group.
King was originally FanDuel’s CFO, before leaving the company and returning as CEO in January to replace co-founder Nigel Eccles.
FanDuel Group CEO-designate Matt King
Joining King on the executive committee is Kip Levin, the current CEO of PPB’s US operations.
Levin will be COO of the new company, and remain CEO of horseracing business TVG. He will be based in Los Angeles and be in charge of the operational side of sports betting, according to the internal email.
The deal to tie up the two companies is expected to close imminently, with a FanDuel branded site also set to launch via the Meadowlands racetrack in New Jersey.
Meadowlands said its sports betting product would go live on July 15.
FanDuel has also secured an agreement to run a sports betting operation on behalf of The Greenbriar golf resort and casino in West Virginia.
The combined firm has said FanDuel will be its main brand for sports betting and casino in the US, with technology and trading provided by PPB.