Thursday, September 29, 2022

Tag: Paddy Power Betfair

Virtual Grand National raises £2.6m for the NHS

Virtual Grand National NHS Fundraising
British bookmakers donated £2.6m in profits to the UK’s National Health Service after the Grand National became the first televised virtual horse race

Paddy Power rebrands as Flutter for US push

Paddy Power USA rebrand Flutter
After reporting another strong year of growth and major strides into the US market, Paddy Power Betfair says it will be rebrand to Flutter Entertainment

Paddy Power Betfair looks to buy FanDuel after US sports betting ruling

American Football
Paddy Power Betfair has launched a bid for fantasy sports league company FanDuel, in the first of what is predicted to be wave of takeover interest prompted by the US Supreme Court’s legislation on sports betting. Fan Duel has an estimated 6 million users

Influential US thought leaders added to GiGse agenda

GiGse Early Bird agenda
GiGse, one of the most popular networking and knowledge exchange events for US facing C-Level gaming professionals, has added to its packed two-day programme securing a further five inspiring speakers.   With specialisms in demographics, legislation and sports betting, the quartet of industry experts comprise: Scott Butera, Commissioner at Arena Football League; Susan Dolinski, VP Communications and Public Affairs at BCLC;...

Paddy Power founder: Industry must tackle online problem gambling

stewart kenny paddy power
The founder and former chief executive of Paddy Power has criticised the company’s response to online problem gambling, the Times has reported. Stewart Kenny, who co-founded the bookmaker and was on the board until 2016, also called on the industry to limit the amount of money people lose online. He told The Times that mandatory limits were needed on money...

No clarity on FOBTs from industry review, says Paddy Power Betfair boss

Paddy Power Betfair has criticised the government’s long-awaited industry review on UK gambling for failing to make a decision on fixed-odds betting terminals (FOBT).   The review proposed that maximum stakes on FOBTs be cut from £100 a spin to a figure between £2 and £50. Breon Corcoran, chief executive of Paddy Power Betfair, said the review, released on Tuesday, failed to...

Paddy Power Betfair calls for FOBT stakes reduction in shock announcement

paddy power betfair fobt
Paddy Power Betfair has become the first major bookmaker to announce its support for reducing FOBT maximum stake levels, leaving the industry dumbfounded.   Perhaps accepting the inevitable, the surprise decision comes weeks before the government’s highly-anticipated triennial review on gambling, in which FOBT stakes are expected to come under fire. Breon Corcoran, Paddy Power Betfair CEO, was previously “ambivalent" about the...

Paddy Power Betfair boss leaves the helm in choppy waters

Chief executive of the FTSE’s largest bookmaker, Breon Corcoran, announces his resignation only months before a period of regulatory upheaval and intense industry consolidation. The exit leaves Paddy Power Betfair in need of some fresh strong leadership.   Irish bookmaker Paddy Power Betfair has been forced into replacing its most integral human component, as chief executive Breon Corcoran announced his departure...

Over 120 operators set for Betting on Sports 2017

betting on sports
  More than 120 operators, 75 top level affiliates and 80 suppliers will be joined by some of the biggest sports organisations in Europe at this year’s Betting on Sports conference, taking place 12-15 September, the organisers have said.   Among the 120 operators at conference will be the recently merged Paddy Power Betfair, a premium sponsor of the event, and Ladbrokes...

Paddy Power Betfair records strong growth in 2017

Betting Business, Paddy Power Betfair, H1 growth Jackson
Paddy Power Betfair plc has reported its interim results for the six months ending 30 June 2017 with a 9% rise in revenue driven by good stakes growth.   The UK-bookmaker, Paddy Power Betfair plc, has confirmed strong results during the first six months of 2017 with strong growth driven by a number of key sporting events during the period. “We continue...

Jackson named as Paddy Power Betfair’s new CEO

Betting Business, Paddy Power Betfair, H1 growth Jackson
Following Breon Corcoran’s decision to step down as CEO of Paddy Power Betfair, his successor has been confirmed as WorldPay PLC’s Peter Jackson.   Paddy Power Betfair PLC has announced that Breon Corcoran will step down as CEO and following a rigorous and extensive succession process, the Board has confirmed that Peter Jackson will become the Group's new CEO. Corcoran advised the...

New Zealand Racing Board approves FOB platform

New Zealand
The New Zealand Racing Board has been approved to deliver new fixed odds betting (FOB) platform with OpenBet and Paddy Power Betfair.   The New Zealand Racing Board (NRZB) has confirmed OpenBet and Paddy Power Betfair will deliver the new technology solution and supporting data for its Fixed Odds Betting business. The investment will enhance NZRB’s current fixed odds betting business, to...

ESSA announce new chair following board restructure

BBi - GVC ESSA Heike Mayer
International betting integrity body, ESSA, has elected a GVC’s Heike Mayer as its new Chairperson and expanded the membership of its board.   ESSA has confirmed it has appointed a new chair with GVC’s Heike Mayer succeeding outgoing ESSA Chair, Mike O’Kane, who has held the position since 2012. The board has also expanded to reflect its growing membership, with Betway’s Jon...

Populism over pragmatism: Shares tumble on stake reduction hype

Betting Business review stakes
The market jitters on the news that British MPs have recommended the harshest reduction in machine betting stakes. While the reaction reveals how exposed certain bookmakers are to the risk, analysts remain sceptical that ministers will ultimately be so self-harming.   Those UK bookmakers most reliant on revenues from fixed-odds betting terminals saw their valuations slashed when a cross party group...

Paddy Power Betfair positioned for further growth following successful Q3

Betting Business Paddy Power Betfair Financial
Paddy Power Betfair announces Q3 update with strong results across online and sports revenue.   Paddy Power Betfair Plc recorded significant growth during the three month period ending September 30, 2016 (Q3) with particular growth driven by online and sportsbook revenue. The merged businesses announced total revenues up 25 percent with a marked increase in online revenues of 20 percent, including a...

Paddy Power Betfair signs deal with The Racing Partnership

Betting Business Paddy Power Betfair Media rights
Paddy Power Betfair has announced that it has agreed a long-term racing media rights deal The Racing Partnership (TRP).   The partnership will see TRP content distributed throughout Paddy Power’s retail betting estates from the 1 January 2017. TRP racing content will now include UK all-weather racing from Lingfield Park, Southwell and Wolverhampton tracks. Additionally, Paddy Power estates will gain broadcasts...

H1 results up 18 per cent for Paddy/Betfair

Betting Business, Paddy Power Betfair merger
The first half of the year has treated Paddy Power Betfair more than equitably, as the merger process between its legacy companies reaches its final stages.   Interim results released by Paddy Power Betfair show that the international bookmaker saw revenue growth of 18 per cent in the six months to June 30, to £759m (E886m). Online sales made up the bulk...

Paddy Power Betfair reveal H1 growth across four core divisions

Betting Business, Paddy Power Betfair, H1 growth Jackson
Paddy Power Betfair has revealed its first set of interim H1 results, reporting a rise in revenue of 18 percent to £759m (€890m) and double-digit growth across its four core divisions.   For the six months ended 30 June 2016, underlying operating profit grew 39 percent to £148m (€174m), however an operating loss of £48m (€56m) was recorded after merger-related items....