Posts Tagged "Betfair"

Betfair has a new campaign dubbed ‘Ready?’ with Lucky Generals

Betfair has a new campaign dubbed ‘Ready?’ with Lucky Generals

Betfair has made its first advertising performance. This comes a short while after having their marketing aligned with Paddy Power which was happened in this year’s first half. The multi-channel campaign “Ready?” has been launched by Betfair jointly with Betfair and Lucky Generals. The new product will cover all communication channels such as TV, social media, radio and newspapers. Luck Generals was picked by Betfair officials as a creative lead agency back in May. Paddy Power managed to register the first corporate savings within the marketing department after the post-merger synergy strategy was put to practice.

“Ready” campaign has already hit top notch. It is recognized as a triumphant attempt between balancing sports and important brand communications. The product does not promote competitive odds or any other sort of bonuses that players can qualify for. During half time in Leicester vs Man United, the “Ready” product was advertised for about 60 seconds. “A champion is someone who’s ready when the gong rings – not just before, not just after – but when it rings. Ready?” this is the voice-over quote being used to advertise the product. This is from the well-known heavy weight boxer Jack Dempsy.

Betfair is well recognized in the betting industry. It has introduced revolutionary products such as Acca Edge and Price Rush as well as imposing changes in the betting industry. The main objective of the campaign is for Betfair to differentiate themselves from Paddy Power and other bookmakers. This is according to Lucky Generals. According to Paul Gambrill the Marketing and Brand Director at Paddy Power Betfair the “Ready” campaign will be an efficient method for capturing anticipation of sports and betting. The campaign is set to be launched in Denmark, Spain, and Italy.

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New Jersey sees a 20% rise in betting income

New Jersey sees a 20% rise in betting income

Regulated online betting in New Jersey has seen a drastic increase in the month of December as well as the whole 2015 by over 20%. A report that was released by the Division of Gaming Enforcement on Wednesday indicated that income from online operators who are licensed by the sate recorded at $14 million in December. As compared to November when the revenue stood at $13.2 million, the report indicated a 6% growth. In relation to the total revenue generated in 2015, the report indicated that there was a 30.8% rise as compared to 2014. A 39% rise on revenue in year-on-year for casino vertical read at $12 million. Nonetheless, there was a drop in the poker income down by 3.6%.

In total, income generated in 2015 alone was recorded at $148.8 million. This was a 21% rise as compared to 2014’s income. 33% rise was also evident in the total online casino in the whole 2015 to record at $125 million in comparison to the one recorded in 2014. However, there was a slight drop in the poker revenue sector by 18% to stand at $23.8 million.

As the trend has always been, Pala combo/Bwin.party/Borgata had the mammoth share of the income generated in December at $3.96 million. From this figure, poker contributed $1.1 million whereas casino brought in $2.85 million. Total revenue accrued by Borgata was at $45.7 million which was a rise from 2014’s $44.3 million. This came despite poker overseeing a drop of 17%.

Caesars Interactive Entertainment on the other hand recorded December income at $3.1 million from which $2.23 million was from casino and $874k from poker. However, a drop in the 2015 year was recorded to $32.7 million from $32.9 million in 2014. This was as a result of the drastic decline of poker income from $13.3m in 2014 to $10.7 million in 2015.

The Golden Nugget casino had total December income at $2.87. Its total yearly income rose by nearly 300% to record at $31 million in 2015 from $10.8m in 2014. This was due to their amalgamation with the Betfair New Jersey.

Tropicana casino had December income at $2.8 million with yearly income rising by 45% to record at $32.8 million. Resorts casino Hotel on the other hand had December income at $1.3 million.

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Injuries set to end Coneygree career

Injuries set to end Coneygree career

Coneygree has been faced by a series of injuries that will prove costly to his carrer. The Cheltenham Gold Cup Hero is set to be a notable absentee during the William King George VI Chase to be held at Kempton. Furthermore, his injuries will prove costly as he may not be in a position of defending his title at Festival scheduled for March. It is not yet clear on the right time that the eight year old will resume the course. Whether this season or next season.

Coneygree was hit by an injury on Wednesday which prompted Sara Brandstock who is the wife of trainer Mark, taking him for further diagnosis. She later claimed that Coneygree will soon be back to the field but was adamant to reveal if the injuries may threaten his career or the season.

Coneygree has had several backslides which are as a result of injuries. Apparently, he picked an injury at Sandown which made him miss the Hennessy Gold Cup last month. He later returned in a 25 winning streak which showed a potential scoop of the King George. Nonetheless, his injury has curtailed all the hopes of winning the race.

His absence means Don Cossack is favorite for King George by 9-4 while Vautour lies second with 3-1. Cue Card is third on 7-2. Cue Card has been tipped as the dominant horse in Cheltenham Gold Cup with Djakadam, Don Poli, Vautour and Don Cossack following the suite. Missing of Coneygree at the Kempton will incorporate other suggestions especially the incorporation of the Smad Place; the winner of Hennessy.

The ante-post Gold Cup market in Betfair exchange had to be deferred following the news of Coneygree injuries. Before this suspension, he was 33-1 to win the championship race.

At the same time, Betway are refunding all bets placed on Coneygree. Boylesport on the other hand is refunding all single bets on Coneygree of stakes £50 or £25 on King George, Lexus Chase as well as Gold Cup placed on free bets.

The eradication of Coneygree in betting for the Gold Cup means that Vautour, Don Poli, Djakadam and Don Cossack remain on 5-1 mark favorites.

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Paddy Power sends Betfair merger prospectus to investors

Paddy Power sends Betfair merger prospectus to investors

Paddy Power shareholders will finally be merging with their rival Betfair Company, and the Paddy Power Company is willing to put up a planned 6.4 billion euros for this initiative. The catalogue will be presented to the companies’ investors before the casting of ballots at a very exclusive general meeting. It is expected that the phase 1 competitor review, presently set up by Ireland’s Competition and Consumer Protection Commission, will be done by December 1st. The UK competition and Market’s Authority is taking part in promoting fair competition for the industry clients, and is due to submit their proposed merger reviews on November 20th.

The final decision regarding the merging of the companies is set to be delivered on January 7th, 2016 by the CMA. In case Paddy Power and Betfair Company clear the UK and Ireland supervisory obstacles without any interruptions, and have approval from their investors, the merging process will be finalized by March, 2016. The CCPC is also set to review the merged entity which is supposed to trade on the London FTSE 100. The time frame for the merger process will be dependent on any issues the CCPC may face with the companies proposals. Specifying further insight on its merger procedures, Paddy Power confirmed that it would pay-out a special 80 million euros, equivalent tobonuses to its shareholders, before the deal concludes.

Morgan Stanley and IBI Corporate Finance are offering advice to Paddy Power, while Goldman Sachs Group Inc. is offering monetary counsel to Betfair. As predicted, the new body will gain a premium listing on the London FTSE. Additionally, the new entity will pursue a secondary listing on the Irish Stock Exchange as an overseas company. Through this merger, Paddy Power will be able to acquire Betfair properties at a near value of 2.86 billion euros equivalent to 3.2 billion dollars. This will also entitle Paddy Power 52% of the total share dealings of the new business entity, which will trade by the title Paddy Power Betfair. The Merged business entity will have its head office in Dublin; with Andy McCue as the leading Chief group operating officer, and Betfair CEO Breon Corcoran as the chief executive.

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Paddy Power – Betfair association now in the initial stage

Paddy Power – Betfair association now in the initial stage

Barely two months ago, Paddy Power and Betfair decided to join hands in a deal worth £50 million. This merging gave rise to a gigantic online betting firm called Paddy Power Betfair plc. The resultant firm would be crucial in according its clients with idiosyncratic as well as various corresponding brands. This followed the two firm stipulating terms for the new incorporation and set a main objective of acquiring £5o million savings. This association will form a base of a persuasive tactical logic that gives room for the two firms in the deliverance of online betting and gaming that would benefit their customers.

With the planned £6.2 billion (€7.5 billion) Paddy Power/Betfair merger already completed, the two firms have initiated the initial face of the business. The probe will be under the eyes of the Irish Competition & Consumer Protection Commission (CCPC). It has been exactly two months since the merging was officially announced on the 25th day of August and this resulted to the two firms sitting together in formulation of the schemed proposal. This was later to be presented to the CCPC.

The task has now been left to the CCPC who will undertake a critical review on the two firm’s merger and schemes that would be directly incorporated in the London FTSE 100. However, it is not clear how long this review will take as various issues may rise from the two firms’ submitted proposals.

Last month, the two firms had done with the agreement on terms and conditions that would be entailed from the resultant merger. The agreement claimed that Paddy Power would incorporate to their platform all Betfair assets believed to be valued at £2.86 billion ($3.2 billion). This meant that Paddy Power will have a 52% share with the Paddy Power Betfair title.

A voting process by Paddy Power shareholders is scheduled for December on acquisition proceedings. The final bit of this acquisition is scheduled for Q1 of 2016. Both Betfair CEO Breon Corcoran and Paddy Power CEO Andy McCue will act as Chief Executive and Chief Group Operations Officer respectively for the new firm.

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