Betfair and Paddy Power Merger For £5bn

0
1337

Big news struck earlier today when talks of a £5bn merger between Betfair and Paddy Power were revealed. If this merger goes through then it will create one of the biggest online betting and gaming companies.

Of course, the final details are still being worked on and it is not a done deal yet but the companies did make statements indicating that the deal had “compelling strategic logic” and boosted their market position.

The controlling stake would be held by Paddy Power at 52% of the equity, giving Betfair investors the remaining 48%.

A staggering statistic revealed that the combined annual revenues of both businesses would be around £1.1bn.

Mergers are nothing new to the gambling scene and we have of course seen similar deals struck with Ladbrokes/Coral as well as William Hill and Bet365. The good news for new bonus hunters is that these bookmakers will no doubt still remain as independent entities from a customer perspective.

The inital talk of the merger caused Betfair shares to soar a whopping 17%, whilst Paddy Power jumped up just over 18%

Interesting times are ahead for the industry and this is just another indication that the gambling market is on an upward curve.

NO COMMENTS

LEAVE A REPLY