Paddy Power looking to follow in Trump's footsteps2017-06-02 09:49:26
The Dublin-based bookmaker who constantly pokes fun of Donald Trump on social media may attempt to make America great again themselves.
The chief executive of the Irish bookmaker - Paddy Power recently announced that Paddy Power is interested in expanding further into the USA. Paddy Power bosses believe that due to the vast competition in Europe from bookmakers, venturing across the Atlantic could be a profitable and realistic opportunity.
The market in Europe is quite saturated and Paddy Power believe that rivals may team up together in order to avoid going out of business altogether. There have been many mergers already in Europe including Paddy Power themselves and Betfair. There are many bookmakers who will have to merge in order to stay afloat and it’s not only small bookmakers.
Paddy Power has expressed caution about their growth in recent times in Europe due to the extreme competition. According to Paddy Power CEO Breon Corcoran: The market has intensified as firms seek to offset higher taxes and tighter regulation with increased revenues” He also commented on the merger between Paddy Power themselves with Betfair: “It is hard to see competition abating but growing revenue sensibly and enhancing profitability over the medium term was the right thing to do.”