If you’re a regular customer of Paddy Power Betfair, you’d better erase this brand name from memory.
Prominent brand Paddy Power Betfair is likely to disappear in the next little while and will be replaced by Flutter Entertainment.
Irish Paddy Power and British Betfair merged on February 2, 2016, which resulted in the formation of one of the largest online betting operators in the world.
On Wednesday, Paddy Power Betfair (plc) announced the results of the annual general meeting (AGM), the final decision of which was to change the name of the company to Flutter Entertainment.
According to resolution 12 of the released document, the overwhelming majority of the shareholders supported the policy shift, with almost 99.8% endorsing the new brand name.
“We believe that the corporate name of the Group should reflect the broader business activities, not just specific brands operated by the Group. Therefore, we consider that this is the correct decision in the context of the Group operating a growing number of diverse brands and operations,” said Gary McGann, Chairman of the Management Board, before the AGM.
Notably, Flutter was once a dotcom business that was acquired by Betfair in 2001.
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