DC Advisory advises Flutter Entertainment plc (Paddy Power Plc) on its merger with Betfair
Background
- Flutter Entertainment Plc (formally Paddy Power Plc) is an international sports betting and gambling company, operating under a number of high-profile names including, PaddyPower, Belfair, Sportsbet and FanDuel
- Flutter Entertainment has a primary listing on the New York Stock Exchange and a secondary listing on the London Stock Exchange
- Betfair is a British online betting platform that offers a full suite of sports betting and gaming products including online casino, poker and bingo
Process
- DC Advisory advised Paddy Power Plc on its merger with Betfair
- DC Advisory advised on valuation, market retention, synergies and bid letters, while also managing multiple due diligence streams
- DC Advisory closely managed the completion process including review of transaction documentation
Outcome
- Paddy Power merged with Betfair on the 8th September 2015, and now trades under the name Flutter Entertainment Plc
- The merger of Paddy Power and Betfair created one of the world’s largest public online betting and gaming companies. The merger generates significant opportunity for revenue synergies due to the combined group’s ability to offer new products and services to existing and new customers
- This transaction further showcases DC Advisory’s expertise in the Consumer, Leisure and Retail sector
“The merger of Paddy Power and Betfair will create a company of world class capability and people who will deliver substantial up-front synergies and a platform for very exciting business expansion.”
Date
Sectors
- Consumer, Leisure & Retail
Deal type
- M&A Advisory
Deal locations
Deal team
Chairman & CEO, DC Advisory Ireland
Actions
Disclaimer
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