Tag Archives: Andy McCue

Paddy Power & Betfair agree on merger terms & conditions

SBC News Paddy Power & Betfair agree on merger terms & conditions

Issuing an investor update this morning, Betfair and Paddy Power governances have confirmed that terms and conditions of their proposed £5 billion merger have been agreed on. The announcement sees Paddy Power agreeing to acquire Betfair assets at a value of £2.86 billion ($3.2 billion). Once completed the planned merger will result in Paddy Power shareholders owning 52% of the …

Read More »

Paddy Power share price surge creates 207 millionaires

SBC News Paddy Power share price surge creates 207 millionaires

 Last week’s 20% surge in Paddy Power shares has created a total of 207 ‘paper millionaires’. Prior to the UK August Bank Holiday weekend Paddy Power shares traded at €96. The Irish Independent newspaper reported the shareholder figures following a review of Paddy Power Plc register, detailing that 207 accounts held 10,000 + shares which following last week trading gains …

Read More »

Retail & digital uplifts see Paddy Power post H1 2015 profits surge

SBC News Retail & digital uplifts see Paddy Power post H1 2015 profits surge

The announcement of a potential Paddy Power and Betfair merger has dominated industry headlines this morning. Nevertheless Paddy Power governance delivered a  very strong H1 2015 interim report (period ending 30 June), as the operator posted top metric growth for both digital and retail divisions. Paddy Power would record a group operating profit before taxes of €80 million up 33% on 2014’s …

Read More »

PMU renews fixed odds partnership with Paddy Power

SBC News PMU renews fixed odds partnership with Paddy Power

Paddy Power and PMU have announced a renewal of their partnership providing Sportsbetting in France. This partnership was first launched in 2010 and sees Paddy Power B2B provide risk management, event management and fixed odds pricing services to PMU. The partnership has proved highly successful. PMU accounted for 22% of the total online French Sportsbetting Market last year, with a …

Read More »

Paddy Power hires Gav Thompson as new CMO

SBC News Paddy Power hires Gav Thompson as new CMO

Paddy Power has confirmed the appointment of Gavin (Gav) Thompson  as its New Chief Marketing Officer (CMO). Thompson replaces long term CMO Christian Woolfenden who is set to lead the operator’s revamp of its UK and Irish retail betting divisions. Thompson a 20 year marketing veteran with expert knowledge in strategic marketing and brand communications, Gav Thompson has worked with top …

Read More »

Paddy Power sets up investors for a potential €800 million surplus windfall

SBC News Paddy Power sets up investors for a potential €800 million surplus windfall

Ahead of its annual general meeting set for 14 May, The Irish Examiner reports that Paddy Power governance is expected to continue to return its surplus cash to investors in the coming years. In March Paddy Power governance announced that it planned to return a dividend of €390 million, representing 12% of its current market value. Paddy Power who were …

Read More »

Andy McCue outlines strategic priorities for Paddy Power in 2015

SBC News Andy McCue outlines strategic priorities for Paddy Power in 2015

Having returned €392 million (£285 million) to shareholders, Paddy Power’s new CEO Andy McCue has outlined his first strategic priorities since taking over from Patrick Kennedy on 2 January 2015. The positive start to McCue’s reign as CEO, sees Paddy Power hand shareholders €8 a share, on top of a 13% increase in full year dividends. The cash return to …

Read More »

Digital & international expansion helps Paddy Power hit record earnings in 2014

SBC News Digital & international expansion helps Paddy Power hit record earnings in 2014

Reporting on its full year 2014 performance (preliminary results) Paddy Power recorded corporate net revenues of €882 million (FY 2013 – €746 million), as the operator was able to announce record net profits of €167 million up 18% on FY 2013 €141 million. Paddy Power governance has been able to announce a €8 cash return per share to investors from …

Read More »

Andy McCue takes the reins as new Paddy Power CEO

SBC News Andy McCue takes the reins as new Paddy Power CEO

Following a five month consultation period under outgoing CEO Patrick Kennedy, Irish bookmaker Paddy Power has announced that Chief Executive Designate Andy McCue has formally taken up its lead governance role as of Friday 2 of January. Paddy Power officially announced that McCue would replace Kennedy in September 2014. Patrick Kennedy steps down following eight years services as CEO of …

Read More »

Andy McCue pushes for in-play changes to Australian sports betting

SBC News Andy McCue pushes for in-play changes to Australian sports betting

Andy McCue CEO designate of Paddy Power has urged for changes to Australian laws and regulations concerning Australian online sports betting. Paddy Power owners of Australia’s largest online bookmaker – Sportsbet.com.au  have asked for a review of sports betting policies focusing on allowing in-play betting. Speaking to the Sydney Herald, McCue stated that the Australian market was inconsistent with regards …

Read More »