Paddy Power Betfair
For the former Irish politician, see Paddy Power (Irish politician).
 | |
| Public company | |
| Industry | Bookmaking |
| Founded | 2016 |
| Headquarters | Dublin, Ireland |
Key people |
Gary McGann, Chairman Breon Corcoran, CEO |
| Revenue | £1,318 million (2015)[1] |
| £229 million (2015)[1] | |
| Website | www.paddypowerbetfair.com/ |
Paddy Power Betfair is a bookmaking business created by the merger of Paddy Power and Betfair. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
History
Paddy Power and British rival Betfair agreed terms for a merger on 8 September 2015.[2] The business is owned 52% by the former Paddy Power shareholders and 48% by the former Betfair shareholders.[2] The merger was completed on 2 February 2016.[3] On 5 April 2016, it was announced that 650 jobs in UK and Ireland would be lost at the company.[4]
Operations
The new business maintains separate brands in the UK, Ireland and Italy.[2] It owns 600 betting shops in the UK and Ireland,[5] as well as a well established on-line betting exchange.[2]
References
- 1 2 "Proforma results for combined group 2015". Paddy Power Betfair. Retrieved 26 March 2016.
- 1 2 3 4 Association, Press. "Paddy Power and Betfair merger agreed". the Guardian. Retrieved 29 January 2016.
- ↑ "Paddy Power Betfair begin trading". Racing Post. 2 February 2016. Retrieved 3 February 2016.
- ↑ Wilson, Bill (5 April 2016). "Paddy Power Betfair to cut 650 jobs in UK and Ireland". BBC News. Retrieved 2016-04-05.
- ↑ "Paddy Power opens its 600th outlet". RTÉ News. 1 March 2016. Retrieved 10 June 2016.
External links
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