Paddy Power and Betfair Announced Possible Merger

paddy-power-online-casino-155x154Two of the biggest gambling brands Betfair and Paddy Power have announced a possible merger agreement. The combined group would be known as Paddy Power Betfair. The merger would create one of the biggest online gaming and gaming companies by revenue in the world with more than 1.5 billion Euros from their last years. Some of the most important terms of the deal include shareholders at Paddy Power would get a dividend of 80 million Euros and Paddy Power would own 52% and Betfair 48% of the issued share capital of the merged group. Also, the chairman at Paddy Power, Gary McGann, would become chairman of the board of the group.

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