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Paddy Power to increase its business negotiations?

The betting agency said it would consider acquisitions if they fitted in with the business.

17 November 2010

The Irish bookmaker Paddy Power may be set to enter more business negotiations, following the announcement the company is to create 1,400 new jobs.

Chief executive of the betting agency Patrick Kennedy said the firm's strategy is to seek opportunities for the enterprise through organic means, strategic partnerships and joint ventures.

He stated that where there is the right value and fit with the business, the enterprise would consider acquisitions to help the business grow.

As well as the creation of 500 job opportunities in Ireland, there will be 810 new vacancies in the UK thanks to an expansion of its retail network and 130 roles in Australia, where it is currently the number one online corporate betting agency.

Paddy power took its first steps into the Australian betting market in May 2009, following sales negotiation that led to it acquiring 51 per cent of Sportsbet, before moving into France later that year after it entered into a partnership with tote operator PMU.

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