Type Public company Revenue 1.318 billion GBP (2015) Headquarters Dublin | Industry Bookmaking Founded 2016 | |
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Predecessors Paddy Power and Betfair Key people Gary McGann, Chairman
Breon Corcoran, CEO Website www.paddypowerbetfair.com/ CEO Breon Corcoran (Feb 2016–) Subsidiaries Betfair, Sportsbet.com.au | ||
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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.
Contents
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History
Paddy Power and British rival Betfair agreed terms for a merger on 8 September 2015. The business is owned 52% by the former Paddy Power shareholders and 48% by the former Betfair shareholders. The merger was completed on 2 February 2016. On 5 April 2016, it was announced that 650 jobs in UK and Ireland would be lost at the company.
Operations
The new business maintains separate brands in the UK, Ireland and Italy. It owns 600 betting shops in the UK and Ireland, as well as a well established on-line betting exchange.
References
Paddy Power Betfair Wikipedia(Text) CC BY-SA