Presenting its 2017 H1 interim results, the governance of FTSE100 listed Paddy Power Betfair Plc (PPB) maintains that the company is ‘well positioned for sustainable and profitable growth’. Despite being set against a tough 2016 comparative period (featuring UEFA Euro 2016), PPB delivered a 9% increase on pro-forma revenues of £827 million (H1 2016: £759 million) combined with a group …
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Breon Corcoran is stepping down as CEO of Paddy Power Betfair to be replaced by Worldpay CEO Peter Jackson. The operator informed the stock market this morning that Corcoran is leaving after 16 years with the Paddy Power Group and having overseen the successful merger with the Betfair betting exchange in February 2016. The news saw the share price drop 5%. Chairman …
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Breon Corcoran CEO of Paddy Power Betfair (PPB) is unafraid of expanding his firm’s presence and services within the US betting/gambling market, as European competition intensifies. Speaking to investors at PPB’s AGM, Corcoran makes his statement as FTSE100 PPB adds mobile US DFS operator DRAFT to its US market assets, having last week acquired the company for a total consideration …
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Shareholder advisory Pensions & Investment Research Consultants (PIRC) has again criticised Paddy Power Betfair (PPB) governance regarding executive rewards and bonus arrangements, ahead of the FTSE firm’s annual general meeting this Wednesday. PIRC advises PPB investors to reject the firm’s remuneration report, due to concerns regarding the ‘termination arrangements’ for PPB governance and leadership. The shareholder advisory points to last …
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Breon Corcoran has told Paddy Power Betfair (PPB) investors and the media that his company will not shy away from corporate acquisitions, as he expects further consolidation within the global gambling market. Speaking to investors following the presentation of PPB’s full-year 2016 results, Corcoran detailed that PPB governance was keeping an eye on market M&A activity, despite undertaking the integration …
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Having completed a year of corporate integrations and co-synergies, FTSE100 Paddy Power Betfair (PPB) is looking forward to the Cheltenham Festival 2017, in which the company will display its combined corporate efficiencies. This morning PPB governance published its ‘Preliminary Results’ for full-year 2016, which outlined a proforma ‘double-digit growth across all four operating divisions’, with PPB group revenues hitting £1.5 …
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Posting its first set of interim H1 results (period ending 30 June), FTSE100 listed Paddy Power Betfair (PPB) has reported group revenues of £759 million recording double-digit growth across its four core divisions. Closing its H1 2016, PPB would post a group underlying EBITDA of £181 million (H1 2015: £138 million). The increased top line metric growth would result in …
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Paddy Power Betfair (PPB) is the latest FTSE-listed company to face a potential shareholder dispute concerning executive pay and compensation. Issuing a public statement, shareholder advisory group Pensions & Investment Research Consultants (PIRC) has called for PPB shareholders to reject the pay package of former Paddy Power CEO Andy McCue. Ahead of PPB’s annual general meeting, PIRC has stated that …
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Newly merged Paddy Power Betfair has confirmed that Chief Operational Officer (COO) Andy McCue has decided to step down from his leadership role at the FTSE 100 listed operator. The announcement of McCue’s departure will surprise many industry commentators, who had predicted that McCue would likely succeed Breon Corcoran as CEO of Paddy Power Betfair in the near future. McCue …
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Having gained regulatory approval of its proposed new share scheme by the UK High Court of Justice, this morning will see the first trades of new gambling powerhouse ‘Paddy Power Betfair’ on the main stock exchanges of Dublin and London. The beginning of trading, will see Paddy Power and Betfair governances complete their agreed £6.4 billion merger which was first …
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