26 Aug Paddy Power Betfair Plc
The everyman’s bookmaker and the savvy punter’s betting exchange have agreed on key terms to merge and become – Paddy Power Betfair Plc.
We knew that mega mergers were happening, but this one’s a big one. Just announced this morning, Paddy Power and Betfair are on their way to become one of the largest public online betting and gaming companies in the world.
Further confirmation was seen this morning on Twitter:
The BBC reports, “Paddy Power shareholders would own 52% of the combined business, with Betfair investors owning the remaining 48%. The combined business would have annual revenues of some £1.1bn.”
With Ladbrokes recent merge with Gala Coral – a deal worth double that of this one, we’ll expect interesting times ahead.
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