Published
Land-Based

Paddy Power Betfair merger cleared by CMA

The

PaddyPower
proposed merger between Betfair and Paddy Power has received clearance from the UK Competition and Markets Authority (CMA).

The CMA published invitation to comment on the proposed merger in November, with a 20 November deadline for comments from interested parties.

The operators fully agreed the terms of a recommended all-share merger to create Paddy Power Betfair in September.

It has been confirmed that Paddy Power shareholders will own 52% of the merged entity, with Betfair shareholders owning 48%.

Paddy Power expects the deal to be completed in the first quarter of next year, with Breon Corcoran of Betfair to serve as the merged operator’s CEO.

Corcoran had worked as COO of Paddy Power before leaving to become Betfair CEO in 2012.

Paddy Power CEO Andy McCue will become COO of Paddy Power Betfair, with the operator to be headquartered in Dublin.
Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Flutter
Galaxy Gaming
Churchill Downs Incorporated
Oddsworks
Follow Us

Global Gaming Awards Asia-Pacific: Going live

The Global Gaming Awards Asia-Pacific are set for their firs...

Preview: SiGMA Asia 2024

SiGMA’s annual Asia summit comes back to Manila – signif...

Company profile: Praxis Tech

Being payments ready in Asia - A call to action for iGaming...