Betfair And Paddy Power Take A £5bn Merger Punt

From Pyra Wiki
Revision as of 14:33, 19 October 2025 by VirginiaMartinez (talk | contribs) (Created page with "<br>Betfair and Paddy Power take a ₤ 5bn merger punt<br>[https://register.bet9ja.com/?btag=yohaig&promocode=yohaig bet9ja.com]<br><br>26 August 2015<br> <br><br>Betfair and Paddy Power are set to merge in a ₤ 5bn [https://systemcheck-wiki.de/index.php?title=Benutzer:CharlinePratt bet9ja's welcome offer] that would produce among the world's biggest online wagering and video gaming companies.<br><br><br>Final details are still being worked out, however the business sai...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search


Betfair and Paddy Power take a ₤ 5bn merger punt
bet9ja.com

26 August 2015


Betfair and Paddy Power are set to merge in a ₤ 5bn bet9ja's welcome offer that would produce among the world's biggest online wagering and video gaming companies.


Final details are still being worked out, however the business said the bet9ja's welcome offer had "compelling tactical logic" and boosted their market position.
bit.ly

Paddy Power shareholders would own 52% of the combined company, with Betfair financiers owning the remaining 48%.


The combined company would have yearly revenues of some ₤ 1.1 bn.


"Discussions stay ongoing regarding the other terms of the possible merger," a declaration stated on Wednesday, external.


The new group would be the UK online market leader with a 16% share, according to market information, passing a merged Ladbrokes/Coral on 14%, along with William Hill and the yohaig code privately owned Bet365.


Shares in Betfair soared 17% to ₤ 30.60 on Wednesday, while Paddy Power jumped more than 18% in Dublin.


If the bet9ja's welcome offer goes on, Breon Corcoran, employer of Betfair, would become president of the combined group, while his equivalent at Paddy Power, Andy McCue, would end up being primary operating officer.


'All about scale'
bit.ly

The combined business prepares to maintain the "unique and complementary" Betfair and Paddy Power brand names in Europe.


Mr Corcoran said: "We fundamentally think this promotion code market is everything about scale. By putting together 2 distinct however extremely strong brands, we'll have a market leading position in the UK, Ireland, Australia and in the yohaig code United States."


Cormac McCarthy, Paddy Power's chief monetary officer, said the mix was an "appealing chance".


"The scale and ability is unsurpassed and would leave us in a better place to complete in our present markets, where competitors is extreme," he said.


Given the complementary nature of the two business, he was confident that any competitors concerns might be overcome.
bet9ja.com

Paddy Power was established in 1988, when 3 Irish bookmakers combined. It has 350 betting stores and is the third-largest online bookie.
bit.ly

Betfair, in contrast, is providing a marketplace - or wagering exchange - that lets customers bypass the need for a conventional bookmaker.


Based on their closing prices on Tuesday, Betfair deserved ₤ 2.4 bn and Dublin-listed Paddy Power was worth EUR3.4 bn (₤ 2.5 bn).
bit.ly

Industry mergers


Shareholders in Paddy Power would get a special code yohaig dividend of EUR80m.


There has actually been a flurry of merger activity in the gambling sector in current months.


In July, online gaming firm 888 Holdings won a takeover fight for rival Bwin.party in a cash-and-stock deal valued at about ₤ 898m.
bet9ja.com

The 2 business had been in discussions since the middle of May.
bit.ly

Ladbrokes and Gala Coral likewise just recently sealed a ₤ 2.3 bn merger.


Online gaming company 888 purchases Bwin


17 July 2015


CVC racks takeover bid


14 May 2013