U.K. Betting Industry Dealmaking Has Created New Champion: Chartby
Formed by a merger less than a year ago, Paddy Power Betfair Plc has grown to become more valuable than Britain’s three biggest bookmaking chains combined. The company, made up of Irish bookie Paddy Power and the Betfair betting exchange, takes the vast majority of bets online, an area where traditional betting-shop firms are still playing catch-up. The gambling giant on Friday raised its profit guidance for the year after an estimate-beating third-quarter, sending its shares up the most in two months.