Paddy Power Betfair acquires Georgian operator Adjarabet

PPB takes a controlling stake in the operator for £101m with plans to acquire the remaining 49% after three years

Paddy Power Betfair (PPB) has acquired a controlling stake in Georgia-facing online operator Adjarabet for £101m in an effort to diversify PPB’s European online business. The deal will see PPB acquire a 51% stake in Adjarabet with plans to acquire the remaining 49% after three years at a valuation equivalent to 7x Adjarabet's 2021 EBITDA. Tbilisi-based…

Adjarabet | Betfair | Georgia | M&A | Paddy Power | Paddy Power Betfair | Peter Jackson


Launches  |  The week in B2B news (22 February 2019)

News 22 February 2019

Regulation  |  Going Dutch or paying full price?

Insight 22 February 2019

Finance  |  Portuguese revenues climb 24% in 2018

News 22 February 2019

People  |  Fortuna CEO to join Catena Media board

News 22 February 2019

Finance  |  Sci Games Q4 digital revenues hit $72m

News 21 February 2019

Regulation  |  UKGC mulls total ban on credit card-based gambling

News 21 February 2019