Paddy Power Betfair has reported an 18 per cent increase in 2016 revenue to £1,551m following double-digit growth across all four of its business segments, although the company posted a loss for the year after incurring significant expenses relating to its merger.

The company said that following the merger of Paddy Power and Betfair in February 2016, it has been focused on integrating the legacy businesses to achieve an optimal operational structure and to realise cost synergies.

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