Paddy Power Betfair
Paddy Power Betfair is a bookmaking business created by the merger of Paddy Power and Betfair. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It operates under various brands including Betfair, Paddy Power, Sportsbet and TVG.
|Public limited company|
|Traded as||LSE: PPB
FTSE 100 Component
|Predecessors||Paddy Power and Betfair|
|Gary McGann, Chairman
Peter Jackson, CEO
|Revenue||£1,745.4 million (2017)|
|£391.9 million (2017)|
|£217.7 million (2017)|
Number of employees
Paddy Power and British rival Betfair agreed terms for a merger on 8 September 2015. The business is owned 52% by the former Paddy Power shareholders and 48% by the former Betfair shareholders. The merger was completed on 2 February 2016. On 5 April 2016, it was announced that 650 jobs in United Kingdom and Ireland would be lost at the company.
The new business maintains separate brands in the United Kingdom, Ireland and Italy. It operates across four divisions; online, retail, Australia and United States. The online division comprises Paddy Power and Betfair in the United Kingdom and Ireland. Betfair also operates an online betting exchange.
The division in the United States includes the TVG Network, which is a horseracing television channel and pari-mutuel online betting network which is active in 35 states. In New Jersey, the company has an online casino and a horse racing betting exchange.
- "Preliminary Results 2017" (PDF). Paddy Power Betfair. Retrieved 11 March 2018.
- "Annual Results 2016" (PDF). Paddy Power Betfair. Retrieved 9 April 2017.
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- Association, Press. "Paddy Power and Betfair merger agreed". the Guardian. Retrieved 29 January 2016.
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- Wilson, Bill (5 April 2016). "Paddy Power Betfair to cut 650 jobs in UK and Ireland". BBC News. Retrieved 2016-04-05.
- "Paddy Power Betfair takes a punt on Worldpay boss as new CEO". telegraph.co.uk. Retrieved 7 August 2017.
- "Divisions". www.paddypowerbetfair.com. Retrieved 2017-06-12.
- "Paddy Power opens its 600th outlet". RTÉ News. 1 March 2016. Retrieved 10 June 2016.
- @globalgallop, Shane Anderson -. "Huge Sportsbet result for Paddy Power". RACING.COM. Retrieved 2017-06-17.
- "Paddy Power Betfair to launch in US with betting exchange". The Irish Times. Retrieved 2017-06-17.
- Commission, Gambling. "Find licensees". secure.gamblingcommission.gov.uk. Retrieved 2018-02-24.
- "Paddy Power Betfair enters fantasy land on back of US sports acquisition". The Telegraph. Retrieved 2017-06-17.