Paddy Power Buys Stake In Georgia’s Biggest Online Gambling Community

Paddy power Betfair on Friday introduced it had purchased a controlling pale in Adjara bet, the largest online betting neighborhood in Georgia, because it moves to benefit a foothold in high-boom markets. In an accord admired at £101m, the UK-listed bookmaker will rob a fifty one per cent stake in Adjara bet, which holds 40% of the Georgian online betting and gaming bazaar and 10% of the nascent Armenian market. Shares in Paddy power traded up as a great deal as three per cent on London’s FTSE exchange on Friday morning.

"This bolt-on acquisition is in response to our method of building podium positions in desirable online markets," said abate Jackson, Online betting Paddy power’s arch executive.