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Paddy Power Betfair's (PDYPF) CEO Peter Jackson on Full Year 2017 Results - Earnings Call Transcript

Mar. 09, 2018 12:48 PM ETFlutter Entertainment plc (PDYPF)
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Paddy Power Betfair PLC (OTCPK:PDYPF) Full Year 2017 Earnings Conference Call March 7, 2018 5:00 AM ET


Peter Jackson – Chief Executive Officer

Alex Gersh – Chief Financial Officer


Gavin Kelleher – Goodbody

Mike Campbell – Whitman Howard

Tal Grant – Credit Suisse

Richard Stuber – Numis Securities

Joe Thomas – HSBC

David Jennings – Davy

Ed Young – Morgan Stanley

Ivor Jones – Peel Hunt

Patrick Coffey – Barcap

Darren McKinley – Merrion

Alistair Ross – Investec

Peter Jackson

Are we ready in Houston? Okay. So good morning, and welcome to the Paddy Power Betfair 2017 Preliminary Results Presentation. It’s my pleasure to present to you for the first time as CEO. I’m very excited at the opportunities ahead of us and believe the group is well placed to be a long-term winner.

While I may have been close to the business and the industry, given my previous board roles, the last 8 weeks have helped to reinforce my views that Paddy Power Betfair has great brands, fantastic people and exciting prospects. I wanted to share – I wanted to start with sharing some of my initial observations before handing over to Alex. And rather than sort of popping up and down, I thought I’d do this bit from here and then we’ll switch.

So firstly, the group delivered a very solid financial performance in 2017, which Alex will talk to you through shortly. It’s clear that we have many important commercial – sorry, competitive advantages, including substantial scale, strong brands, differentiated products, the exchange and leading operating capabilities in areas such as technology, risk and trading and marketing. The final piece of merger integration has now been completed.

The platform integration was finalized in January, almost 2 years to the day since the closure of the merger, and

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