Posted on 15\05\09.
Paddy Power acquire majority shareholding in Australian firm.
Ireland's leading independant bookmaker Paddy Power have acquired a majority 51% shareholding in Australia's largest independant bookmaking firm Sportsbet. The deal worth sixty four million euros, (£57.4 million), also gives Paddy Power control of the 19.998% shareholding Sportsbet had acquired in the shareholding of rival Australian bookmaking firm All Sports.
Not only does this deal give Paddy Power access into the lucrative Australian sports betting market, but it strengthens their worldwide on-line operations, and makes them a major world player.
Posted on 14\05\09.
Two week deadline for potential Great Leighs owner.
The BHA have made it quite apparent to the new potential purchaser of Great Leighs racecourse, he or she must fulfill two criteria in the next two weeks, or there will be no likelyhood of obtaining racing fixtures for the 2010 calendar period.
Firstly, the take-over of the venue from the Essex Showground Company Limited must be signed and sealed with administrators Deloitte.
Furthermore, the new owner must supply the BHA with a financial plan as to how they intend to successfully run the racecourse in the future, and these details must be submitted and approved by the BHA Racing Committee by end of business on 28 May 2009, otherwise, the new owner will not be eligible to bid for race meetings on the designated date of 08 June 2009.
Unless the potential buyer has bottomless pockets and very good accountants, these deadlines seem beyond the realm of a marginal buyer.
DCM re-open applications for Levy Board post.
Seven applicants were due to have an interview for the vacant post of Levy Board Chairman tomorrow, but in a remarkable U turn, the Department of Culture and Media have decided to re-open the post for further applications. The DCM's accompanying statement, in which a spokesperson indicated the government department were looking for applicants with a wider experience of senior management, is hardly a ringing endorsement of the current applicants, and it will probably lead to the seven unidentified people withdrawing their current interest in the vacant position.
Blofeld in suprise move away from Epsom.
Having just overseen the completion of the new grandstand complex, and a five year Derby Meeting sponsorship deal with Investec, most people would have expected Epsom managing director Nick Blofeld to go from strength to strength with Epsom racecourse. It has therefore come as a major shock that he has tendered his resignation, and is to take up a position unconnected with racing.
It is understood the Epsom executive will begin the hunt for a replacement as soon as practically possible.
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