Breaking News BETFAIR Merging with Paddy Power

News, chat and debate about the Betfair betting exchange.
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Euler
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Kai wrote:You should make another video that explains the Exchange in much more detail, possibly with some green screens to catch the attention of regular PP mug punters, this vid is way too short.
That's a good idea.
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Dallas
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Kai wrote:You should make another video that explains the Exchange in much more detail, possibly with some green screens to catch the attention of regular PP mug punters, this vid is way too short.
Might be worth including things that mug punts will understand like ways of exploting BOG and simple arbing for free bets - though it ll be intresting to see how PP treat customers who use there sports book and exchange this way when possible ;)
Last edited by Dallas on Fri Aug 28, 2015 10:55 pm, edited 1 time in total.
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Kai
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Peter if you make a proper welcome video and post it on Twitter we can all retweet it with a PP hashtag for maximum visibility. :twisted:

You have 115k followers, if you ask nicely for a retweet I'm pretty sure you would get quite a few, maybe even Betfair or Paddy ends up retweeting it. Win/Win/Win situation for everybody involved, very much like hedging a profitable trade! :mrgreen:
PeterLe
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nice work if you can get it!

http://www.independent.ie/business/iris ... 87210.html

You can see the former PP CEO had share s totalling E55m too..
It always amazes me that employees (yes I know they are CXX level) can earn tens of millions.
I once met a customer who had previously worked for the company i was working for at the time and he told me that he joined right at the beggining when there was <100 peopple working in the UK. In the first five years or joining he had share options that at the peak would have been worth £21m :D He was only middle management, not senior really.

Maybe that the way to go; Work hard at uni, get your MBA and work your way up!
convoysur-2
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my thoughts are that some one with knowledge and more money than god (peter webb) should hire a production company to make a documentry about your life as a trader and the exchange concept,sell it to a tv station (so no loss financially) and have them air it like that britain at the bookies thingy
Marc
Simples
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Dallas
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Same was suggested on the britain at the bookies topic about a month ago - 2nd post down

viewtopic.php?f=18&t=10624&hilit=britai ... s&start=10
convoysur-2
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hmm didnt see that before,,great minds think alike i guess :D
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Dallas
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convoysur-2 wrote:hmm didnt see that before,,great minds think alike i guess :D
They certainly do mate, lets hope the ones who can do do to, would be great to see ;)
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Euler
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'Merger' going ahead

http://www.theguardian.com/business/201 ... ger-agreed

The combined group – to be called Paddy Power Betfair – will have its headquarters in Dublin

The company will continue to run separate brands in the UK, Ireland and Italy after the merger, which will see Paddy Power shareholders own 52% of the combined business, with Betfair investors owning the remaining 48%.

The firms confirmed Paddy Power shareholders will receive a special dividend of €80m (£58m).

But the firms warned of job losses under plans for about £50m in annual cost savings after the merger.

They said while no decisions had been taken, there was potential for cutbacks in some operational and support functions, which “may involve some headcount reduction”.
hgodden
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It's a shame for those people who work at the front end of betfair who I've always found to be pretty decent myself. I hope they'll be told quickly if they're going to keep their jobs. Not only will the uncertainty be bad for them but also can't be good for moral in terms of customer service experience, there were already a lot of redundancies a while back I remember. Can't be a very nice place to work at the moment
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Euler
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The fact it will be HQ'd in Dublin would seem to indicate they will slim down Hammersmith a lot on the basis that 'a lot of the roles are duplicated'.

It's almost like Breon was planted by PP, now he is returning to Dublin with some extra jobs into the mix as well!
hgodden
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Euler wrote:
It's almost like Breon was planted by PP!
I'm sure you're not the only one to think that :lol:
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Euler
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Just reading the merger document: -

It is envisaged that the realisation of the potential quantified cost synergies will result in a one-off cash integration cost of approximately £65 million. This one-off cost, which will be incurred to specifically implement the cost synergies, will consist primarily of IT related costs but will also include costs associated with the removal of duplication across corporate functions and facilities. Aside from these one-off exceptional costs, no material dis-synergies are expected in connection with the Merger. The identified synergies will accrue as a direct result of the Merger and would not be achieved on a standalone basis.

In order to achieve the full potential benefits of the Merger and in the long-term interests of Paddy Power Betfair, a business, operational and administrative review will be undertaken following Completion. The Boards of Paddy Power and Betfair recognise the importance of the skill, experience and dedication of their employees and are committed to maintaining the necessary expertise to support the Combined Group. However, the realisation of potential quantified cost synergies will involve a reduction of headcount and places of business and may include redeployment of Paddy Power Betfair’s fixed assets where there is opportunity to achieve efficiencies and rationalise the Combined Group’s footprint. The
13 Board of Betfair believes that approximately 50% of the estimated quantified cost savings will come from the reduction in headcount
in the Combined Group while the remainder of the estimated quantified cost savings will come from non-payroll related efficiencies in IT, property, services and marketing.

Start backing Betfair to close their Hammersmith offices ;)

After all, the servers and another office are in Dublin already.
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LeTiss
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So everytime you meet BF Peter, it will also involve the odd piss up in Dublin?!

Do you fancy inviting some of your customers and fellow traders out for a friendly get together? :lol:
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Euler
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http://media.investis.com/B/Betfair/vid ... tation.mp4

Interesting comments on the exchange from about 40 mins onwards ;)
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