Paddy Power Betfair acquires majority stake in Adjarabet

Discussion in 'Casino Industry Buzz and Terms Alerts' started by MissExposé, Feb 1, 2019.

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    MissExposé

    MissExposé Member Staff Member

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    "Paddy Power Betfair has acquired an initial 51% stake in Georgian online sports and betting brand Adjarabet for €101m (£88.3m/$115.6m) in cash.

    The operator said the deal forms part of its European diversification plans, with the acquisition securing its place in the Georgian igaming market.

    Adjarabet is recognised as one of the leading operators in Georgia, with a market share of around 40% based on customer deposit data in the country. It also has a presence in neighbouring Armenia through an exclusive marketing relationship with Adjaranet."

    More info here: http://www.igamingbusiness.com/news/paddy-power-betfair-takes-majority-stake-adjarabet
     

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