Paddy Power Betfair plc is one of the leading sports betting and gaming groups in the world. The business was formed from the February 2016 merger of Paddy Power plc and Betfair Group plc and is now split into four divisions:Online, which boasts two of Europe’s leading online sports betting and gaming brands, Paddy Power and BetfairAustralia, which, under the Sportsbet brand, is the market leader in the fast-growing Australian online betting marketUS, which combines TVG, the leading horse-racing TV and betting network in the USA, and two Betfair operations in New Jersey, an online casino and a racing exchangeRetail, which operates 600 Paddy Power betting shops across the UK and Ireland, employing almost 5000 people.
Flutter Entertainment, the owner of Paddy Power, has agreed to buy the parent company of PokerStars in an all-stock transaction to create the world’s largest online business.
*By John English Four months after the U.S. Supreme Court repealed a federal law limiting sports betting to just four states, there has been a mad dash by bookmakers and system providers from all over the world to descend on U.S. soil and plant their flag. This change in regulation can truly be likened to […]
Online wagering operator Paddy Power Betfair saw a 4 percent increase in profits in 18H1, reaching GBP 106 million (US$136.5 million), according to an interim results filing from the company. The sports betting operator reported a 7 percent increase in revenue in the half year, with Q1 flat, but Q2 up 13 percent year-on-year. Underlying […]
Paddy Power posted a 13 percent gain in 2017 revenue, helped by a strong performance from its Australian online betting brand Sportsbet. The U.K.-listed company posted overall revenue of GBP1.74 billion ($2.4 billion) for last year, generating EBITDA of GBP473 million, a gain of 18 percent. In Australia, Sportsbet’s revenue jumped 21 percent to GBP404 […]
More than 120 operators, 75 top level affiliates and 80 suppliers will be joined by some of the biggest sports organizations in Europe at this year’s Betting on Sports conference, held from September 12-15. Among the 120 operators at #boscon2017 will be the recently merged Paddy Power Betfair, a premium sponsor of the event, and […]
Paddy Power Betfair’s chief executive officer has announced he will be stepping down after 16 years with the company. No handover date has been set, but it is understood that he will be replaced by Worldpay chief executive, Peter Jackson. Mr. Jackson has been an independent, non-executive director of Paddy Power Betfair since 2016. It […]
OpenBet and Paddy Power Betfair have been selected to deliver technology solutions and supporting data for the New Zealand Racing Board’s fixed-odd betting business. The board said both companies have strengths in digital, sport and in-play wagering, which are three of the biggest growth opportunities. “The investment will enhance NZRB’s current fixed odds betting business, […]
International betting integrity body ESSA has elected a GVC Holdings’ Heike Mayer as chairperson, succeeding Mike O’Kane, local media reports. Mayer is currently responsible for public and regulatory affairs at GVC and also serves as vice-chair of ESSA. O’Kane has held the position as ESSA chair since 2012. “I’d like to thank Mike for all […]
The Philippines has been one of the best-performing casino markets in 2016, with revenue from the properties in Entertainment City up 20 percent in 3Q, though operators from Vietnam and Cambodia are also posting strong results, highlighting the potential of these markets. AGB will be hosting the inaugural ASEAN Gaming Summit in March 2017 to […]
Australia’s booming sports betting market is still seen as being attractive to foreign investors despite the merger of local incumbents Tatts and Tabcorp, which are now expected to dominate the market. Opponents to the merger say the combination will reduce competition in the fastest growing area of the market - online and telephone betting. It also comes hot on the heels of new online gambling legislation, which far from bringing Australia in line with international standards, imposed a more restrictive regime.