The merger between Paddy Power and Betfair is set for February

We have long talked off the merger between leading online gambling giants Paddy Power, and Betfair. That merger is now set to become a reality a tad earlier than expected, when the two giant companies get together this February.

Deal to go Ahead

Having successfully navigated all of the challenges before them, the deal is now ready to go ahead. In December, the UK Competition and Markets Authority approved the deal, and the Competition and Consumer Protection Commission of Ireland followed suit. When merged, the company is thought to be worth around £5 billion. It will also be listed on the London Stock Exchange, and the Irish Stock Exchange on the second of February.

Terms of Deal

According to the terms of the deal, Paddy Power will have a 52% stake in the business, whilst Betfair’s shareholders will retain 48% control. The merger was first mooted back in August, and it caused quite a few shocks.paddbet

Other Mergers

Several other major mergers between gambling companies have been touted of late, and several have also seen the light of day. One of the biggest looks to be Ladbrokes’ merger with Gala Coral. This partnership could very well put them on a collision course with Paddy Power – Betfair in the battle to lead the way in the UK online gambling market.

Force to be Reckoned With

It is not immediately clear just how the two online casinos of the businesses will be affected, or their sportsbooks. It could happen that both will merge into one, whilst retaining the right to run both sportsbooks and casino domains could also be played out. Curious players will just have to wait and see how this mega merger affects them in the coming weeks. One thing is for certain, though: Paddy Power and Betfair will now be a force to be reckoned with.

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