Peter Jackson (CEO of Paddy Power Betfair) says the new name will promote “increased diversification” in the company’s offering, which now includes six brands: Paddy Power Betfair Sportsbet FanDuel TVG Adjarabet. Name change to be approved by shareholders at Paddy Power Betfair annual general meeting, May. Jackson explained that, with a “growing portfolio of brands,” the Group will be renamed Flutter Entertainment plc. The historical name will not be used for consumer products, but we plan to ask our shareholders at the next AGM for permission.
Jackson said that the decision to change the name of the corporate entity was a necessity. It will still take time for the corporate goals to be met. Paddy Power Betfair was a more complex name than “Flutter” and was commonly shortened as Paddy or PPB. Paddy Power or Betfair will not disappear; both brands are still prominently displayed in their preferred markets.
Flutter was also a part of an older corporate acquisition that Betfair made in 2001. Jackson said, “It was cheap to pull it out from the archives.” What else could happen? It’s possible that if the name gets a lot of attention, it will be used on some brand in the future 2up sports.
But the debate over the proposed change of name has already begun. Joe Brennan of The Irish Times quickly attacked the proposal. He said, “The proposed name Flutter Entertainment plc is tone-deaf and comes at a period when gambling has a bad image.” Brennan continued, “For the company who spends millions in marketing and advertising each year, it would have made sense to hire some professionals.”
Brennan’s screed is a perfect example of how gambling advertising and marketing in the UK has moved beyond fun. The group’s new planned name is incompatible with this, Brennan concluded.
Yeah, whatever. When a company is forced to use such political bullying to protect a brand name which does not appear in any other brands, the state has gone too far. Paddy, (Power Betfair), has other more important concerns. The EUR55 million of back taxes demanded by Greece and Hesse in Germany is one example. Greece is claiming EUR15 million in back taxes in connection with Paddy Power offering services in Greece from 2012 to 2014. Hessian Assessment is connected with Betfair operations in Hessians in 2012.
There are stretches in both jurisdictions where regulatory oversight has been unclear, and the courts have ruled against it. PPB will appeal both assessments. However, the chances of success are very slim. Some operators are facing similar assessments. SNBC was a Sports Betting National Championship that ran in New Jersey from 11-13 January at DraftKings’ live-betting outlets. This event was meant to blend traditional sports wagering and the contest element of DFS.
This contest had an entry fee of USD 10,000. SNBC was a guarantee of $2.5m in prize money, and it attracted 192 well-bankrolled participants. DraftKings, however, was not prepared and under-technological to ensure that the promotion and contest would work. DraftKings may take a big hit to its bottom line from this contest.
This all culminated during Sunday’s (January 13th) NFL playoff between New Orleans Saints and Philadelphia Eagles. Rufus Peabody who was in first place when the contest ended, had to watch as two other SBNC entrants won the wagers on various lines offered during the game. Peabody was unable to place a wager on his leading bankroll in the contest, so he had to watch as two SBNC competitors passed him up with winning wagers.
2up Sports telah menyesuaikan diri dengan era web3 dan gelombang internet mudah alih, dengan menumpukan pada konsep kepribadian, kesehatan, gaya, popularitas, tren baru, serta konsep sosialisasi sepanjang hari bagi generasi muda tahun 00-an.
2up Sports telah menyesuaikan diri dengan era web3 dan gelombang internet mudah alih, dengan menumpukan pada konsep kepribadian, kesehatan, gaya, popularitas, tren baru, serta konsep sosialisasi sepanjang hari bagi generasi muda tahun 00-an.