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Paddy Power Betfair acquires 51% stake in Georgian operator Adjarabet

1st February 2019 7:36 am GMT

London-listed betting and gaming operator Paddy Power Betfair has acquired an initial 51 per cent controlling stake in Georgian online operator Adjarabet for £101m.

The company said that the acquisition enhances the diversification of its European online business, providing the group with exposure to two fast-growing markets.

Adjarabet is the leading online operator in Georgia’s regulated market with an estimated 40 per cent share, and also has a growing presence in the developing regulated Armenian online market, [...]

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