Tag Archives: Paddy Power Betfair

Paddy Power cuts 300 Irish jobs

Irish news sources have reported that Paddy Power is set to cut up to 300 jobs from its Dublin operations in-line with its post Betfair merger strategy. The betting operator informed its Dublin staff yesterday. It is reported that the job cuts will likely be in overlapping business areas such as marketing, technology development and trading. Paddy Power Betfair (PPB) …

Read More »

Matt Davey – NYX Gaming – Maintaining independence will be key to Openbet’s long term success

Matt Davey Chief Executive of Toronto-listed igaming supplier NYX Gaming (NYX), has declared that ‘maintaining independence’ will be the key to acquired asset Openbet’s long term success. Reaching a binding agreement for its £270 million acquisition of Openbet from long-term private equity owners Vitruvian Partners, NYX’s deal will be part funded by William Hill (contributing £80 million) and Sky Betting and Gaming …

Read More »

Andy McCue exits Paddy Power Betfair

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 …

Read More »

Worldpay secures payment services agreement with Paddy Power Betfair

FTSE listed global payments provider Worldpay has secured a major services agreement with newly merged online betting/gaming enterprise Paddy Power Betfair. The agreement will see Worldpay service payment processing services for Paddy Power Betfair assets. Furthermore, Worldpay management stated that the operator would use its services to gain additional payment insights, user learnings and operational efficiencies. Worldpay a leading payment …

Read More »

Paddy Power revenues hit €1bn before Betfair merger

Both Paddy Power and Betfair were achieving double digit growth ahead of their merger last month – Paddy Power had grown its revenues by 24% to €1.1bn in 2015, while Betfair’s final quarter as an independent company saw revenues increase by 21%. However both firms also had their figures blunted by taxation. Over 2015 Paddy Power’s operating profit increased 10% …

Read More »

FTSE eagerly awaits Paddy Power Betfair results

Tuesday morning will see the first joint publication of Paddy Power Betfair results, as FTSE analysts and commentators eagerly await the performance update of online betting’ biggest market capital operator. Having opened trading with a £105 share price on the London and Dublin stock exchanges on 2 February, Paddy Power Betfair entered the prestigious FTSE 100 index last week having …

Read More »

Paddy Power Betfair adds SafeCharge as a payment technology partner

SafeCharge, a leader in advanced payment technologies, has today announced that betting operator Paddy Power Betfair has chosen SafeCharge’s Personalised Cashier to facilitate the checkout journey of its players on a global scale. SafeCharge’s Personalised Cashier is a technology-based solution for deposits, withdrawals and diverse alternative payment methods that optimises all aspects of the payment funnel. It includes multiple approaches to assist players at …

Read More »

Paddy Power Betfair aims for £50 million in synergy savings

Having announced yesterday, that governances had agreed on terms and conditions for their planned £5 billion merger. Paddy Power and Betfair executive teams have detailed further insight with regards to merger plans and long term integrations of the operators. Central to its long term growth, will be the estimated annual cost saving of £50 million through shared synergies which the …

Read More »

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 »