Tag: paddy power
Betfair shock market with Paddy Power merger
It’s not often you get a full blown WTF moment, but we got one this morning with news that former Paddy Power COO, Breon Corcoran, who is now Betfair CEO. Has agreed to a takeover / merger with Paddy Power.
It is being positioned as a merger, but the simple fact is that Betfair will be a minority in the new partnership only holding a 48% stake of the company, Paddy Power would hold a 52% stake. Paddy Power are …
Has Paddy Power overstepped the mark?
There is a storm a brewing tonight.
They say all publicity is good publicity, but there must be an invisible line that is crossed at some point. Judging by the feedback to their latest promotion Paddy Power appear to be at least on that line.
With the world, in part at least, turning its eyes to South Africa for the trial of Oscar Pistorious, Paddy Power thought they would put a market up for it; click here if you wish…
Ryder Cup winner already settled
Another great publicity stunt by Paddy Power who have already settled Europe as the 2010 Ryder Cup winners.
https://blog.paddypower.com/blog/index.php/2010/09/27/europe-win-the-ryder-cup-we-reckon/
They would have already known their liability so it’s effectively booked as a marketing expense. Of course they will get loads of publicity on it, such as people like me posting it on their blog! This is also something that Betfair would find difficult to do. Very imaginative folks over at PP.
Paddy Powers on
It’s easy to forget in this modern age of betting exchanges that traditional bookmakers are still around and still going strong. Paddy Power just released results which showed that gross win was up 117% to €112m and operating profit up 66% to €36.1m. Online betting accounts for 73% of the group’s operating profit.
Paddy Power said profit before tax for the six months to June 30 grew 54% to €52.5m. In 2009 Betfair earned £42m for the whole year.
Paddy …
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