In May this year Paddy Power bought a 51% stake in the Australian Bookmaking business Sportsbet for an initial 48.5 million Australian Dollars(AUD). This was financed by AUD 45.8 million cash and the issue of Paddy Power shares. Sportsbet was an established Northern Territory Licensed operator but more importantly held a 19.98% stake in International All Sports (IAS). Paddy Power has now completed the takeover of IAS seeing off a rival bid from Centrebet. [click to continue…]

{ Comments on this entry are closed }