Paddy Power Betfair Merger Completed

This story was published more than 8 years ago.

Today the merger between the online betting firms Paddy Power and Betfair successfully completed, and the combined entity has begun trading on the London Stock Exchange, company officials announced.

The successful merger now creates a mega gambling company, whose annual revenues take in an estimated £1.1 billion. The new company structure will see Breon Corcoran serving as CEO with Alex Gersh as Chief Financial Officer and Ian Dyson as Non-Executive Director. Cornac McCarthy, Tom Grace, and Ulric Jerome have resigned their positions as Directors.

The two betting brands will operate independently, although future endeavors will see both brands working together, with the goal of becoming the world's largest online betting group.

A company statement on the merger read: "Paddy Power Betfair was formed in 2016 from the merger of two of the fastest-growing online betting operators in the world - Paddy Power and Betfair Group. Paddy Power Betfair has a market-leading presence in the UK, Ireland, Australia and the USA, as well as a range of B2C and B2B operations across Europe."

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.