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Keeping a Close Watch on the Paddy Power-Betfair merger
Monday September 7,2015 : MERGER DISCLOSURES MAKE THE IRISH PRESS
Large loans and payments reported.
The Irish press is clearly keeping a close watch on the disclosures in the Paddy Power-Betfair merger reporting over the weekend that in April 2014, the group gave a loan of Euro 609,529 - without requiring any collateral or guarantee and without any interest attached - to a member of its executive management team who has not been named.
Asked for comment, the company said the individual concerned had been transferred overseas and has since repaid the loan.
The disclosures apparently also revealed that Paddy Power non-executive director Stewart Kenny, a co-founder - was paid Euro 200,000 in 2013, and again in 2014, for consulting fees not linked to his role on the Board.
A further disclosure reported that charges of Euro 404,425 were paid for advice from the Arthur Cox law firm; one of the partners in the firm, Padraig O'Riordain, is also a non-executive director on the Paddy Power board.
Paddy Power set share price records in Ireland this week, breaking the Euro 100-a-share level in a first for any main market Irish Stock Exchange company and creating about 200 new paper millionaires among shareholders.
The forthcoming merger between Paddy Power and Betfair will create a company valued at Euro 1.2 billion and a serious rival for market-leader Bet365, which is worth around Euro 1.7 billion according to media reports.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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