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A Paddy Power sign on a shop in Dublin city centre

Paddy Power Betfair to pay £2m to UK Gambling Commission

Paddy Power Betfair has agreed to pay £2m (€2.28m) after the UK gambling watchdog found it failed to step in quickly enough when customers were showing concerning betting behaviours, which saw one gambler stake £86,000 in just over two weeks.

Business • 17 Dec

Paddy Power Betfair owner Flutter said it was pleased by the 'strong support' it had received for the share placing

Flutter raises over £812m in share placing

Paddy Power Betfair parent Flutter Entertainment said it has raised £812.6m through a placing of over eight million shares.

Business • 29 May 20

Paddy Power owner has warned of a £100m hit to full year earnings due to sporting event cancellations

Flutter sees big earnings hit if sports remain off

Paddy Power Betfair parent Flutter Entertainment said it would take a £90-110m hit to full-year earnings if coronavirus sports fixture restrictions remain in place until the end of August, but horse racing continues without spectators.

Business • 16 Mar 20

Flutter Entertainment was formerly known as Paddy Power Betfair

Flutter Entertainment and Stars Group to merge

The owners of Paddy Power and Poker Stars have agreed to merge in an all-share deal to create one of the world's largest online betting and gambling companies.

Business • 02 Oct 19

Paddy Power Betfair said its Sports revenues rose by 15% to £366m in the first quarter

Paddy Power Betfair's Q1 revenues race 17% higher

Paddy Power Betfair touted "huge progress" in the developing US market and a strong first quarter for its established Australian business as revenue rose by 17% despite sports results favouring gamblers.

Business • 02 May 19

Paddy Power Betfair's full year profits fall by 11%

Paddy Power Betfair to re-name as Flutter Entertainment

Paddy Power Betfair has reported an 11% fall in full year pre-tax profits despite a 7% rise in revenues for the year to the end of December.

Business • 06 Mar 19

The outbreak of equine flu is costing the UK bookmaking industry tens of millions of pounds

Bets off for UK's bookies after horse flu outbreak

A shutdown in British horse racing due to an outbreak of equine influenza is costing the bookmaking industry tens of millions of pounds, Betfair has said, and could get much worse if the outbreak is prolonged.

Business • 08 Feb 19

Paddy Power Betfair enters Georgian market in £101m deal

Paddy Power Betfair buys 51% stake in Adjarabet

Paddy Power Betfair has bought a 51% controlling stake in Adjarabet, an online betting and gaming company based in the regulated Georgian market, for £101m.

Business • 01 Feb 19

Shares in Irish bookmaker Paddy Power Betfair fall after US court decision

Bookmakers' stocks drop as US reverses betting ruling

Shares of Irish and UK betting companies, which have been pushing into the US market because of tighter regulations, fell after the US Department of Justice called for wider restrictions on all gambling on the internet.

Business • 15 Jan 19

The Remote Gambling Association has voluntarily agreed to stop its ads

Gambling firms to stop advertising during broadcasts

Some of the biggest gambling companies operating in the UK have agreed to stop advertising during live sports broadcasts such as football matches, the BBC said today.

Business • 06 Dec 18

Paddy Power Betfair posts a 12% increase in net revenue for its third trading quarter

Paddy Power Betfair's third quarter revenue up 12%

Paddy Power Betfair lifted the bottom end of its full year earnings guidance range today as a strong performance in its main online business outweighed a run of unfavourable sports results in the third quarter.

Business • 02 Nov 18

An investigation by the UK Gambling Commission found that Paddy Power Betfair failed to protect customers and stop stolen money from being gambled

Paddy Power Betfair fined £2.2m over check failings

Paddy Power Betfair has been fined £2.2m by the UK's gambling watchdog for a raft of failings including allowing a punter to gamble money stolen from a dogs home.

Business • 16 Oct 18

New Jersey's gaming regulator takes responsibility for a betting glitch that cost FanDuel $82,000 on a bet

NJ regulator takes responsibility for FanDuel glitch

New Jersey's head gaming regulator has taken responsibility for a sports betting glitch that cost Paddy Power Betfair's FanDuel Group $82,000 on a bet.

Business • 10 Oct 18

Betting tax to rise from 1% to 2% under new Budget 2019 measures

Paddy Power Betfair on betting tax increases

Paddy Power Betfair said it has noted the Government's decision to increase the rate of betting tax from January 2019.

Business • 09 Oct 18

Dublin-based bookmaker Paddy Power Betfair agreed in May, after the US High Court's ruling on betting, to merge its US business with fantasy sports giant FanDuel

Sports betting passes New Jersey legislature

New Jersey's legislature has unanimously passed a bill to regulate and tax sports betting at casinos and racetracks.

Business • 08 Jun 18

Paddy Power Betfair said talks are ongoing with FanDuel and there was no certainty as to whether a deal will be reached

Paddy Power Betfair shares up on news of FanDuel talks

Paddy Power Betfair has said it is in discussions regarding a potential combination of its US business and fantasy sports company Fanduel to target the prospective US sports betting market.

Business • 16 May 18

William Hill already operates legal sports betting in Nevada and is preparing to start operating in New Jersey

Gaming firms eye jackpot from US sports betting ruling

Shares in US gaming and casino companies jumped yesterday as investors wagered on new business opportunities for the industry after the US Supreme Court paved the way for states to legalise sports betting.

Business • 15 May 18

Paddy Power Betfair opened three shops in the UK and two in Ireland during the first quarter of this year

Paddy Power Betfair's Q1 revenues and profits dip

Paddy Power Betfair said profit growth could stall this year after earnings fell in the first quarter on higher taxes and a subdued performance in its main European online business.

Business • 02 May 18

Paddy Power Betfair names Hill as its new CFO

Paddy Power Betfair has appointed Jonathan Hill as the company's new chief financial officer.

Business • 28 Mar 18

Paddy Power Betfair's revenues for last year increased by 13% to £1.745 billion from £1.551 billion in 2016

Paddy Power Betfair investment plan brings some pain

Shares in Paddy Power Betfair fell today after the gambling group's plans to increase marketing spend and boost sluggish European growth led to downgrades in earnings forecasts.

Business • 07 Mar 18

Paddy Power Betfair's CFO confirms his departure

Paddy Power Betfair's CFO confirms he will stand down

Alex Gersh has confirmed that he will stand down as chief financial officer at Paddy Power Betfair after six years in the position.

Business • 05 Mar 18

The UK is set to lower the limit on betting shop terminals to £2 from £100 in a move that could hit bookies' revenue

Bookmakers' shares fall on fears of UK clampdown

Shares in gambling companies William Hill, Ladbrokes and Paddy Power Betfair fell sharply today on reports that Britain is set to lower the limit on betting shop terminals to £2 from £100 in a move that could hit their revenue.

Business • 22 Jan 18

Paddy Power Betfair announces management changes

Paddy Power Betfair names Taylor as new Europe CEO

Paddy Power Betfair has appointed Dan Taylor as CEO of its Europe operations and Barni Evans as CEO of Sportsbet, the group's operations in Australia.

Business • 10 Jan 18

Paddy Power Betfair operates in Australia through its Sportsbet business

Paddy Power Betfair in Crownbet deal talks - sources

Paddy Power Betfair has held talks to explore a possible tie-up with Australia's CrownBet, the online betting unit of Crown Resorts, two sources familiar with the matter said today.

Business • 24 Nov 17

Paddy Power Betfair CEO Breon Corcoran said Q3 was 'an encouraging quarter'

Paddy Power Betfair Q3 revenue rises by 9% to £440m

Third quarter revenue at betting group Paddy Power Betfair rose by 9% to £440m, when compared with the same period in 2016.

Business • 01 Nov 17