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BUZZ-British online betting co's: Dealt a bad hand on Betfair-Paddy Power deal

Wed, 26th Aug 2015 08:48

** Possible Betfair-Paddy Power 5 bln stg merger a bad betfor rivals

** Merger could create one of the world's largest onlinebetting and gaming groups with estimated revenue of over 1.1 blnstg

** William Hill and Ladbrokes both down morethan 5 pct; worst performers on the FTSE 250 Index

** Playtech falls 2 pct while Bwin.party down 1.4 pct

** Betfair and Paddy Power only gambling cos in the green onthe STOXX Europe 600 Travel and Leisure index

** Possible merger marks the latest in a string of possibletie-ups across the sector

** Last month bookmakers Ladbrokes and Gala Coral sealed anall-share merger, while 888 and GVC are in abidding war for online gambling firm Bwin.party (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)

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26 Aug 2009 12:09

London midday: Resource stocks a drag

Given that resource stocks are in the dog-house the Footsie is doing well to be only moderately in the red on a day of mixed results for blue chips. Pre-tax profits plunged at Tullow in the first half of the year as the firm felt the pinch of the slide in oil prices. The oil company posted a pre-t

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26 Aug 2009 08:20

London open: Lower start for FTSE 100

Footsie is slightly lower in early dealings, with the advertising group WPP the leading share index's heaviest faller after reporting interim results. WPP said half-year results continue to reflect the impact of the global economic contraction, which continued to intensify in the second quarter, th

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26 Aug 2009 07:27

Paddy Power H1 profit declines

Ireland's largest bookmaker Paddy Power reported a decline in half year pre-tax profit but saw 20% growth in online customers. Commenting on the results, CEO Patrick Kennedy said, "It's been... a positive start to 2009 for Paddy Power. A swing in the year-on-year run of sporting results, a normal o

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19 Jun 2009 17:30

Paddy Power non-exec trims stake

Tom Grace, senior independent director of Paddy Power, has cut his stake in the Irish bookie, which has seen a rally in the share price since February. Grace, a former Irish rugby international and the treasurer of the Irish Rugby Football Union, sold €165,000 worth at €10 per share. Grace joined t

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14 May 2009 15:19

Business picking up at Paddy Power

Irish bookmaker Paddy Power said the growth in the company's sportsbook has picked up after a couple of drab months at the start of the year. Trading in the first two months of 2009 was hit by a number of race meeting cancellations, but since then business has picked up, due in part to the expansio

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