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Yahoo Sports owner said to be discussing sports betting merger options

Yahoo Sports owner said to be discussing sports betting merger options

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Apollo Global Management, the private equity firm that last year acquired Yahoo for $5bn, is reportedly engaged in preliminary discussions with sports betting companies, with a view to merging their assets with Yahoo Sports.

One such company is said to be the Australian PointsBet Holdings, which currently has a market valuation of around $760m.

Yahoo was an early provider of fantasy sports tools and has millions of players who would clearly be potential sports betting clients.

As the US market continues to open, the clear early leaders are DraftKings, FanDuel and BetMGM, with a group of others, including PointsBet, battling to acquire users in what is essentially a high-volume, low-margin sector.