Paddy Power Betfair invades Georgia
Paddy Power Betfair expands its business with a great deal. One of the most reliable bookmakers globally invades online gambling industry in Georgia. Paddy Power Betfair has acquired a 51% controlling stake of Adjarabet.
The latter is one of the greatest online gambling Group in Georgia. According to this deal, Paddy Power Betfair will buy the rest 49% in three years.
At present, Adjarabet is the leader company in Georgia’s online gambling market. They have managed to have the 40% revenue of the market. They offer both casino and sports betting. Furthermore, the bettors who run an account in Adjarabet they can play poker and peer-to-peer games.
Paddy Power Betfair reactions
After this deal, Paddy Power Betfair gets into a second attractive and fast-growing regulated market.
Paddy Power Betfair’s chief executive Peter Jackson commented after this crucial deal: “This bolt-on acquisition is in line with our strategy of establishing podium positions in attractive online markets. Ajarabet’s leading brand presence and strong management team have established it as the clear number one in the fast-growing, regulated online Georgian market. Together with our group’s technology and sports capabilities, we are confident that Adjarabet will be strongly positioned to continue to build on this success”.
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