Paddy Power Ups Stake in Australia’s Sportsbet

Written by:
Guest
Published on:
Feb/12/2010

Paddy Power has increased its stake in Australia's Sportsbet, strengthening its position beyond Europe.

Paddy Power said its stake had risen to 60.8% following the buyout of a 9.8% holding from a minority shareholder - Nambawan Capital - for €8.5m.

Analysts said the increased stake as a sign Paddy Power's plans to expand beyond saturated British and Irish markets were a success.

Last year, Paddy Power announced it was acquiring an initial 51% stake in Sportsbet.

Paddy Power shares were up 2% to stand at €23.95 in Dublin this afternoon, a gain of 50 cent.

Gambling News

Instant Cash – Getting Quick Withdrawals from Online Casinos

Ever won big at an online casino only to wait days, or even weeks, to see that money? Nothing kills the thrill of hitting a jackpot faster than watching your withdrawal request sit in pending limbo. In current conditions, players want their winnings now.

Circa Rumors Escalate

Derek Stevens, owner of the famed Circa Casino and Sportsbook in Las Vegas, had many folks talking Monday morning following a recent post.

Syndicate