Paddy Power Betfair moves to change name to Flutter Entertainment as US sports betting market opens up March 6, 2019 Paddy Power Betfair revealed on Wednesday it is moving to change its name to Flutter Entertainment. The decision, which is subject to approval at a shareholder meeting at an upcoming general meeting, is part of a bid to diversify as the company moves to take advantage of the opening of the US online sports betting market. [...]
Betting stocks stumble after horse racing suspended due to equine flu February 7, 2019 Betting stocks slipped this morning after horse racing across the UK was suspended today because of fears of equine flu. William Hill's share price fell nearly one per cent, GVC's share price was down 1.7 per cent and Paddy Power Betfair was down 1.6 per cent. In a statement the British Horseracing Association (BHA) said [...]
FTSE 100 roundup: Today’s winners and losers November 16, 2018 The FTSE 100 lost ground today, down 5.31 points at 7,032.70 just before markets closed after a turbulent start to the day when it lost as much as 0.8 per cent. All week markets have been reacting to the political fallout from Brexit as the FTSE 100 wiped out gains made late last week. Top 5 FTSE [...]
Government caves on fixed-odds betting terminal reform in face of parliamentary backlash November 14, 2018 The government has U-turned on delayed changes to fixed-odds betting terminals (FOBTs), bringing forward a widely called-for cap on stakes to April, after the sports minister resigned over the issue. Shares in gambling companies rallied sharply on the news with GVC up 8.1 per cent, Paddy Power Betfair up 7.5 per cent, William Hill up 2.1 [...]
Paddy Power Betfair cashes in on US sales as revenues climb November 2, 2018 Paddy Power Betfair reported rising third-quarter revenues this morning, as new efforts to tap into US markets helped deliver much-needed sales in the wake of challenges closer to home. The bookmaker’s shares edged up two per cent in early morning trading, with revenues hitting £83m in the three months to the end of September, marking a [...]
Fintech startup Worldremit poaches former Paddy Power chief as its next boss October 22, 2018 London money transfer fintech startup Worldremit has today revealed former Paddy Power Betfair chief Breon Corcoran will be its newest chief executive. Corcoran joins the fintech as it hurtles towards so-called unicorn status – a company worth over $1bn (£764.6m) – after successfully managing the merger of betting firms Paddy Power and Betfair in 2016. Worldremit's current founder and chief [...]
Paddy Power fined £2.2m for failing to protect customers October 16, 2018 Paddy Power Betfair has been fined £2.2m by the gambling watchdog for failing to protect customers and stop stolen money being gambled. The betting site failed to adequately interact with customers who were displaying signs of problem gambling and to carry out anti-money laundering checks, an investigation by the Gambling Commission found. Read more: Rank [...]
Behold, Betty Power: Paddy Power and Betfair reach agreement on all-share merger September 8, 2015 The boards of Paddy Power and Betfair have reached an agreement on the terms of a recommended all-share merger to create a new entity called Paddy Power Betfair – or "Betty Power" to its friends… Having agreed a deal in principle to create one of the world’s largest online gambling companies by revenue, the pair [...]
Paddy Power share price rises as revenue jumps despite increases in tax and regulation August 26, 2015 Paddy Power reported revenue of €80m (£58.4m) in the first half – as it said it expects to exceed analysts' expectations for year-on-year profit growth. The company's shares rose 18 per cent to €91.86 as it unveiled plans for a merger with rival Betfair. The figures Operating profits at the company rose €80m in the six months [...]
Paddy Power and Betfair share prices jump as they take a punt on merging to create the world’s biggest online gambling company August 26, 2015 Say hello to the world’s largest online gambling company – after Paddy Power and Betfair announced a potential merger. The two bookmakers have agreed a deal in principle that will create one of the world’s largest online gambling companies by revenue. Under the terms of the deal, Paddy Power will own 52 per cent of [...]