One of the world’s largest gambling companies is now called Paddy Power Betfair and boasts revenues of more than £1.1 billions and more than 7,000 staff. The new gambling behemoth will be headquartered in Dublin, Ireland. Paddy Power and Betfair will keep their separate brand names.
The tie-up between the largest Irish bookmaker and the biggest betting exchange in the world comes amidst the mergers and acquisitions frenzy which recently seems to have taken over the online gambling industry. Other notable mergers and acquisitions that have taken place recently include Bwin and Party Gaming's merger, Ladbrokes and Gala Coral's merger, Unibet’s acquisition ofStan James Online and William Hill’s acquisition of Sportingbet.