Paddy power buys stake in Georgia’s biggest online gambling community
Description
Paddy power Betfair on Friday introduced it had purchased a controlling pale in Adjara bet, Online Betting the largest online betting neighborhood in Georgia, because it moves to benefit a foothold in high-boom markets. In an accord admired at £101m, the UK-listed bookmaker will rob a fifty one per cent stake in Adjara bet, which holds 40% of the Georgian online betting and gaming bazaar and Online Betting 10% of the nascent Armenian market. Shares in Paddy power traded up as a great deal as three per cent on London’s FTSE exchange on Friday morning.
"This bolt-on acquisition is in response to our method of building podium positions in desirable online markets," said abate Jackson, Online Betting Paddy power’s arch executive.
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