Flutter

At the time, one doesn't know if a minor skirmish will turn out to have been the opening salvo in a protracted war or merely a here-today-gone-tomorrow storm in a tea-cup. Regarding British racing's latest contretemps, we can only guess what will follow; but it is likely that the unexpected decision by Flutter (the parent company of several major bookmaking firms including Paddy Power and Sky Bet) not to take bets on Wednesday's meeting at Bath is merely the start of a major shake-up of the sport's finances. Flutter's decision...

Racecourse Media Group (RMG) and Flutter Entertainment have agreed to a long-term partnership through 2028. RMG, a media and data rights holding company owned by 34 racecourse shareholders, and Flutter, which is the parent company of Paddy Power, Betfair and Sky Bet's agreement will involve streaming rights and other key areas of the RMG business. RMG and Flutter will work together to leverage the latter's marketing and promotional assets to grow turnover, engagement and interest on racing conducted by RMG's racing product. Martin Stevenson, CEO of RMG said, "We are...

Gaming conglomerate Flutter-parent company of Paddy Power, Betfair and FanDuel-has purchased all shares in The Stars Group, owner of Sky Bet. Racing Post reports the two companies had a £10.5-billion combined market value at the time the deal was done. The companies' combined annual revenues in 2018 would have totalled £3.8-billion, making it the world's largest online betting and gaming operator.