The deal is also expected to boost Flutter's underlying earnings per share by at least 50 percent in the first full financial year following completion. The merger is expected to deliver pretax cost synergies of 140 million pounds per year, along with opportunities to cross-sell products to one another's customers in international markets and lower finance costs, the companies said. Around half of its current income is generated in Britain and Ireland, with 15 percent in Australia, 5 percent in the United States and 31% from the rest of the world.īetting exchange Betfair and Paddy Power, which runs high street betting shops as well as an online business, merged in 2016, although the integration took longer than anticipated and a toll on product investment for a time. The combined group will serve customers in more than 100 countries.

market opens up and it faces higher taxes and increased regulations in its main British, Irish and Australian markets. TSG had bolstered its British operations last year when it bought Sky Betting & Gaming in a $4.7 billion deal.įlutter has sharpened its focus on North America as the potentially huge U.S. business with fantasy sports company FanDuel last year in a deal it said would create the industry's largest online business in the United States. The Murdochs' Fox Corp launched the FOX Bet sports betting platform last month in New Jersey in partnership with The Stars Group.ĭublin-based Flutter merged its U.S.

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