Tag Archives: Betfair

Betfair announced as first ‘authorised betting partner’ for UK racing

The British Horseracing Authority (BHA) has named Betfair as its first ‘authorised betting partner’ (ABP) having agreed a three year deal which will see the operator pay a percentage of racing revenues for its betting services. Betfair who have voluntarily supported the 54th levy scheme since its first announcement in September, is the first bookmaker to gain official ABP status. …

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Paddy Power–Betfair aims for £25 million savings through labour reductions

UK newspaper The Sunday Times has reported that the merged enterprise of Paddy Power – Betfair will look to implement £25 million in cost savings in 2016 by significantly reducing headcount. In September Paddy Power and Betfair governances’ had outlined a co-synergies’ savings target of £50 million, should their proposed merger receive its approval. A circular published this weekend details …

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21 December sees PaddyPower-Betfair shareholder vote

Issuing a short statement on Friday (27 November), Paddy Power Plc and Betfair Group Ltd have both announced that the planned £6.2 billion merger deal will be put to vote on 21 December. Both operators are set to host ‘extraordinary meetings’ in which investors will cast their votes on whether to progress the merger. Preparing for their shareholder vote, Paddy …

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Betfair – Paddy Power merger on course for Q1 2016

The merger between Paddy Power and Betfair is all set to be completed early next year, according to Betfair CEO Breon Corcoran. During the exchange operator’s half year results, the company confirmed that all relevant regulatory filings have been submitted and the merger is on track for completion in Q1 2016, subject to shareholder and regulatory approval Betfair appears to …

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Betfair signs 2 year Sandown ‘Tingle Creek’ sponsorship

Betfair has been announced as the new sponsor of the Tingle Creek Chase at Sandown in a two-year deal. The company is the first to use its status as an ‘authorised betting partner’ to reach an agreement to expand its sponsorship portfolio with Jockey Club Racecourses, owner of Sandown. Following the announcement of the initiative last month, JCR announced they …

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Betfair gains first New Jersey exchange wagering license

FTSE listed Betfair has achieved a significant breakthrough for its US operations, by gaining the first ever exchange wagering license granted by the New Jersey Racing Commission (NJRC). Betfair US in partnership with Darby Development the racetrack operator of Monmouth Park had its wagering exchange services granted approval by the New Jersey Sports & Exposition Authority (NJSEA). Following a review …

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UK CMA opens commentary on Paddy Power/Betfair merger

Aiming to promote fair competition for consumers, the UK Competition and Markets Authority (CMA) has published invitation on the planned £6.2 billion merger of Paddy Power and Betfair (first announced in August 2015). The competition regulator has requested for assistance regarding its review of the merger, inviting comments from concerned parties. The CMA noted that any comments or concerns regarding …

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TVG rebrands HRTV to ‘TVG2’

US racing broadcaster TVG, has announced that acquired HRTV will rebrand its media assets to TVG2. TVG governance announced that the full rebrand has become effective as of 28 October, with TVG launching TVG2.com Betfair subsidiary TVG stated that the brand move would allow the broadcaster to better leverage its media inventory, production and broadcast infrastructure. The rebrand would further help …

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Saturday punters furious as Betfair exchange suffers severe downtime

The Betfair betting exchange suffered severe downtime on Saturday afternoon, leaving eager punters furious with the operator’s services. A jam packed sports schedule, which featured afternoon Premier League matches and the Rugby World Cup semi final between New Zealand Vs South Africa proved to be too much for the betting exchange servers to handle. The embarrassing incident for Betfair, would …

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Paddy Power – Betfair merger enters phase 1 CCPC review

The planned £6.2 billion (€7.5 billion) Paddy Power/Betfair merger has entered its phase one probe by the Irish Competition & Consumer Protection Commission (CCPC). Since the merger was first announced on the 25 of August, Paddy Power and Betfair governances’ have been working together to submit the planned proposal to the CCPC. The CCPC will now review the operators’ plans …

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