SBC News Voice of the Sports Betting Industry
Breon Corcoran has told Paddy Power Betfair (PPB) investors and the media that his company will not shy away from corporate acquisitions, as he expects further consolidation within the global gambling market.
Speaking to investors following the presentation of PPB’s full-year 2016 results, Corcoran detailed that PPB governance was keeping an eye on market M&A activity, despite undertaking the integration of combined assets and operations following the completion of its £7 billion merger.
Aware of changing market conditions, Corcoran details that PPB governance will consider potential acquisitions that will boost the FTSE100 betting operator’s ‘international footprint’.
“We have the right to consider most of these things. We’re in a market-leading position in the UK, in Ireland, in Australia and in the United States, so diversifying our international footprint is important.” Corcoran commented
“If we were to do something and the right asset came up and it was international and gaming focused, it would be interesting.”
Presenting PPB’s 2017 corporate strategy, Corcoran detailed that the enlarged operator would focus on three core dynamics to help achieve its long-term growth.
Moving forward PPB will look to; ‘capitalise on its enhanced scale’ producing optimal customer services, products and pricing. Continuing its merger integration, PPB will ‘combine best individual legacy assets’ focusing on creating best-in-class operational processes.
Finally, PPB will look to establish itself at the outright betting multi-channel industry leader for the UK & Ireland by ‘optimising its brand position’
Closing his statement to investors, Corcoran detailed that having merged two leading UK tier-1 operators in a ‘transformative 2016’, PPB would now have to create ‘its own legacy’ within the global gambling market.
