Tag Archives: Breon Corcoran

Paddy Power Betfair stands by FOBTs judgement

The governance of FTSE100 betting group Paddy Power Betfair Plc (PPB) has restated its support of the government’s £2 cut on FOBTs machine wagering. Issuing a corporate update, following yesterday’s DCMS triennial review judgement, PPB governance stated that the drastic FOBTs cut would not change the firm’s UK retail strategy. Updating the market, PPB estimates a 33-43% decline in total machine …

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Home crunch triggers FTSE bookmakers’ Australian arms race

FTSE bookmaker William Hill Plc has lit-up the Australian gambling market, by confirming that it has entered ‘in-depth discussions’ with Crown Resorts to acquire its controlling 62% stake in online betting subsidiary Crownbet. The cumbersome merger of Tabcorp-Tatts has dominated the Australian betting industry’s agenda and context in 2017, however, seeking to expand its international assets William Hill may have …

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Scott Longley: Jackson sizes up online hole at Paddy Power Betfair

Jackson PPB

The good news for Paddy Power Betfair is that the company now has certainty over the succession to outgoing chief executive Breon Corcoran, writes Scott Longley, with ex-WorldPay executive Peter Jackson to be officially anointed in early January. However, the slightly less good news is that he has a lengthy order of business to address if he is to achieve the grand hopes …

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Paddy Power Betfair – Breon Corcoran leaves ‘fine-tuned machine’ for Peter Jackson

Taking on his last investor conference call as Paddy Power Betfair CEO, outgoing leader Breon Corcoran details that PPB’s executive team has achieved its enterprise year 2 ambition of securing ‘structural advantages’ within the firm’s enlarged operations. Closing a solid Q3 performance, in which PPB governance ups its 2017 year-end guidance to an EBITDA range of £450-465 million. Corcoran details …

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Group Strength…Paddy Power Betfair delivers solid Q3 2017, upping its full-year guidance

FTSE100 betting group Paddy Power Betfair Plc (PPB) has delivered a positive Q3 2017 trading update (period ending 30 September), prompting the group to lift its full-year earnings expectations as the company undertakes a leadership transition. A strong period sports betting performance for PPB’s online and retail divisions saw the firm record a 9% increase in group revenues of £440 …

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October pains… UK DCMS expected to delay final judgement on FOBTs wagering

UK newspapers The Times and The Guardian have reported that the Department for Digital, Culture, Media and Sport (DCMS) will seek to open a further ‘12-week consultation period’ for its ongoing review of FOBTs wagering levels. At present, it appears that DCMS will delay its judgement on whether to reduce FOBTs wagering from £100 max-bet to the reported options of £50, …

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Jenningsbet MD Greg Knight blasts Paddy Power Betfair of hijacking UK FOBTs review

Greg Knight Managing Director of UK independent bookmaker Jenningsbet has criticised Paddy Power Betfair CEO Breon Corcoran for advising the government to reduce FOBTs wagering to a £10 limit. Last month, it was revealed that Corcoran had written a letter to the Department of Culture, Media and Sport (DCMS), advising sports minister Tracey Crouch to drastically reduce wagering levels on fixed-odds …

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Breon Corcoran comes out in support of slashing FOBT stakes

The Financial Times has revealed that Paddy Power Betfair chief executive Breon Corcoran has issued his support for significantly cutting the stakes of  fixed-odds betting terminals (FOBTs). In a letter to the minister at the Department for Culture, Media and Sport (DCMS), Tracey Crouch, Corcoran stated that due to the ‘toxic’ nature of the debate that now surrounds the terminals only significant action would …

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Paddy Power Betfair defends disclosure of Corcoran resignation

The governance of FTSE100 listed Paddy Power Betfair (PPB) has defended its handling of the disclosure of the departure of Breon Corcoran as Group Chief Executive. The betting firm stated that it had ‘strictly adhered’ to UK Financial Conduct Authority rules with regards to its leadership succession plans and that the company had not leaked any ‘inside information’. Last week, …

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‘Technology First’ Paddy Power Betfair delivers solid H1 2017 performance

Presenting its 2017 H1 interim results, the governance of FTSE100 listed Paddy Power Betfair Plc (PPB) maintains that the company is ‘well positioned for sustainable and profitable growth’. Despite being set against a tough 2016 comparative period (featuring UEFA Euro 2016), PPB delivered a 9% increase on pro-forma revenues of £827 million (H1 2016: £759 million) combined with a group …

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