Aug. 26, 2015, 4:32 AM
- Betfair (OTC:BTFRF) and Irish rival Paddy Power (OTC:PDYPF) have reached an agreement in principle on a £5B ($7.85 billion) merger that would create one of the world's largest online betting and gaming groups with revenues of over £1.1B.
- The deal is the latest in a flurry of M&A activity in the industry, which is expected to accelerate as gambling firms look to protect themselves from increasing tax and regulatory pressures.
Currently, there's no company description for PDYPF.
Industry: Personal Services
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