Paddy Power Betfair merger already yielding sizeable financial rewards

Paddy Power Betfair merger already yielding sizeable financial rewards

According to The Times newspaper, the recently-formed Paddy Power Betfair enjoyed significant financial growth over the course of 2015.

The bookmakers – whose merger was only finalised in February – enjoyed combined revenue in the region of $1.3 billion.

An understandably chuffed Breon Corcoran – the chief executive of the merged company – told that, “We were very pleased to complete the merger of Paddy Power and Betfair, creating one of the world’s largest online betting and gaming companies with enlarged scale, enhanced capability and distinctive complementary brands.

“These results show that both businesses entered this merger on the back of strong trading momentum. Our belief in the strategic rationale for the deal has only been strengthened following our early days as a combined operator.”

Corcoran further added that, “The combination of two industry leading operators, with aligned strategies and a strong culture fit, is hugely exciting and the enhanced efficiency from operating at greater scale means we are well positioned to compete in both existing and new markets.

“The integration of the two businesses is progressing well and we look forward to capitalising on the opportunity we have to drive future profitable growth.”

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