Rumours recently that two of the competitive wagering world’s biggest names are set to merge into one giant company are continuing to spread. Two of the genuine greats within the mobile casino universe, Paddy Power and Betfair, have been in talks over the issue of a merger. It seems the deal is set to go ahead within the next 12 months or so, providing that the $10million (AUS) amount is finalised.
Though technically still ‘hanging in the balance’; as the deal lies within the formative stages as discussions continue, most speculate that it’s a done deal already. Though there are still clauses to be drawn up and final details to be agreed upon, it is known at the time being that 52% of the shares of the new company will be owned by Paddy Power shareholders – making the Irish company the majority within the merger and therefore the casting vote upon most issues going forward.
At the time being, all eyes are pointing directly forward towards the cut-off date of September 23rd – when Paddy Power must issue its final decision on whether or not to go ahead with the deal. However as previously mentioned it is expected that, with the majority of the shares in the new venture, it will a unanimous and resounding ‘yes’ from the company.
If the deal does happen to go ahead and the final terms are all met and agreed upon on both ends, the potential then held by the mega-company will be huge. As one combined enterprise, the company will become the biggest online provider of its kind. With a 16% market share, in an industry which boasts thousands upon thousands of competitors, it will be unprecedented, unmatchable and pretty much immovable as the top dog.