Paddy Power Betfair

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For the former Irish politician, see Paddy Power (Irish politician).
Paddy Power Betfair plc
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 588 betting shops in the UK and Ireland as well as a well established on-line betting exchange.[2]

References

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External links

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