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Paddy Power Betfair PLC (PPB.L)

PPB.L on London Stock Exchange

8,350.00GBp
12:11pm EDT
Change (% chg)

60.00 (+0.72%)
Prev Close
8,290.00
Open
8,370.00
Day's High
8,395.00
Day's Low
8,280.00
Volume
153,139
Avg. Vol
231,625
52-wk High
9,184.90
52-wk Low
6,572.50

Latest Key Developments (Source: Significant Developments)

Paddy Power Betfair CEO says use of excess cash a conversation for 2017
Wednesday, 24 Aug 2016 07:04am EDT 

Paddy Power Betfair Plc : Paddy Power Betfair CEO says conversations around future M&A, returning excess cash to shareholders for 12 months time Further company coverage: [PPB.I] (Reporting By Padraic Halpin) ((Padraic.Halpin@thomsonreuters.com;)).  Full Article

INTERVIEW-Paddy Power Betfair well positioned for future M&A - CEO
Wednesday, 24 Aug 2016 03:15am EDT 

Paddy Power Betfair Plc : Paddy Power Betfair CEO says will typically use Betfair brand exclusively for entries into other European markets . Paddy Power Betfair CEO says group will focus primarily on regulated markets and on digital over high street . Paddy Power Betfair CEO says board continues to examine what level of gearing the merged group will target . Paddy Power Betfair CEO says speedier integration puts it in a pretty good position to get involved in M&A if it wishes . Paddy Power Betfair CEO expects to open 10 shops in H2, may be interested in small amount of Ladbrokes, Coral stores for sale . Paddy Power Betfair CEO says not yet seeing any evidence of an impact from Brexit, not weighing on thinking Further company coverage: [PPB.I] (Reporting By Padraic Halpin) ((Padraic.Halpin@thomsonreuters.com;)).  Full Article

Paddy Power Betfair H1 earnings up 31 pct, merger cost synergies increased
Wednesday, 24 Aug 2016 02:00am EDT 

Paddy Power Betfair Plc : Revenue up 18 percent to £759 million, with double-digit growth in all four divisions, online up 20 percent . Interim dividend of 40 pence per share takes total dividends for period to 52 pence per share . Merger integration progressing ahead of plan with majority of actions already completed . Now expecting £65 million of cost synergies with full benefit to be achieved in 2017 . Full year 2016 proforma underlying ebitda is expected to be between £365 million and £385 million . H1 underlying proforma EBITDA £181 million, up 31 percent y/y . Will adopt a more targeted approach to customer proposition and messaging for each brand Further company coverage: [PPB.I] (Reporting By Padraic Halpin) ((Padraic.Halpin@thomsonreuters.com;)).  Full Article

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Factbox: British bookmakers bolster U.S. operations as UK cracks down

The U.S. Supreme court in May paved the way to legalize sports betting by overturning a 1992 federal law that had effectively prohibited sports gambling except in Nevada and, to a limited extent, Delaware, Montana and Oregon.