Paddy Power Betfair Co-founders Laughing All The Way To The Bank

Spike in share price as merger news breaks

On the back of a possible Paddy Power-Betfair merger (see previous InfoPowa report), share prices rose sharply in both companies, no doubt elating Betfair co-founder Ed Wray and Paddy Power's David Power.
Betfair's share price rose 21.36 percent to GBP 31.59 as InfoPowa went to press, effectively increasing the worth of Wray's 9.5 percent holding by at least GBP 50 million. Betfair's market capitalisation at close today was GBP 2.809 Billion.
Betfair was born 15 years ago when Wray (45), and Andrew Black (50) pooled GBP 60 000 of their savings to form Betfair, which launched in 2000.
And Paddy Power co-founder, David Power, who with 8 percent is Paddy Power's biggest individual shareholder, will have seen the value of his shares rise by approximately Euro 50 million to around Euro 320 million today as the share price closed 19.52 percent up at Euro 93.00 giving Paddy Power a market capitalisation of Euro 4.095 billion.
Paddy Power was founded back in 1988 by bookmakers Stewart Kenny, David Power, and John Corcoran.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449


The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.

See More Posts