16+ CR GTD
Header banner - Calling Stn
Pokersaint - Lead
Paddy Power Betfair buys 51% stake in Adjarabet Gaming

Paddy Power Betfair buys 51% stake in Adjarabet

by Team Gutshot Posted on 15 Feb, 2019

Ireland-based sports betting company Paddy Power Betfair (PPB) has decided to expand into the European country of Georgia after acquiring 51% stake of the country’s leading online gaming website called Adjarabet, probably named after the autonomous region of Adjara.

The deal was struck between PPB and Adjarabet for €101 million and the former is planning to acquire the remaining 49% stake after 3 years. Adjarabet is licensed in Georgia to offer a range of gambling products like online betting, casino, sports, poker and peer-to-peer games. Adjarabet is Georgia’s market leader with an estimated 40% of total online industry revenues.

In 2017, Adjarabet also entered the Armenian market with adjarabet.am. It was also the first company in Georgia to introduce popular sports betting feature ‘Cash Out’ and had invented a novel feature called ‘Non Stop’. In 2016, Adjarabet organized a WSOP Circuit Georgia and subsequently became official regional partner of WSOP Circuit Events.

Paddy Power Betfair, one of the market leaders in Europe, was a result of a merger between Irish company Paddy Power and UK’s Betfair on 8th September 2015. The business is a split between 52% of the ownership with Paddy Power and 48% with Betfair. This month, they announced another breakthrough, a possible merger with the worldwide gambling giant The Stars Group (TSG).

Peter Jackson, PPB’s Chief Executive commented, “This bolt-on acquisition is in line with our strategy of establishing podium positions in attractive online markets. Adjarabet’s leading brand presence and strong management team has established it as the clear number 1 in the fast-growing, regulated online Georgian market. Together with our Group’s technology and sports capabilities, we are confident that Adjarabet will be strongly positioned to continue to build on this success.”

With the Adjarabet deal in books, the Irish company has now earned “exposure to two attractive, fast-growing, regulated markets,” i.e. the online Georgian market and the nascent Armenian market. In its press release, PPB stated, “We believe that the combination of the market-leading brand and local operational expertise with Paddy Power Betfair’s technology and leading sports capabilities positions Adjarabet very well to capitalise on this opportunity.

Keep reading GutshotMagazine.com for more such worldwide industry updates as well as for general gambling/gaming news.

Pokerjohnny slim banner

Check out our online poker rooms section, where you can read reviews on the biggest and best poker rooms in the country, while also taking advantage of their bonuses and promotions. Check out these top poker rooms HERE.


Your email address will not be published. Required fields are marked *

Dangal box

Top 10 Poker Rooms

  • Calling Station
    Calling Station

    Instant withdrawal; Use “RELOAD20” on deposits for 20% locked bonus
    Offer: "GUTSHT" Register

  • 9stacks

    Instant withdrawal; 100% locked bonus on first deposit
    Offer: "9GUTSHOT Register

  • PokerSaint

    60-seconds withdrawal; 100% locked bonus on first deposit
    Offer: "GUT100" Register

  • Poker Dangal
    Poker Dangal

    INR 500 Free on sign-up; (120 Locked, 330 Ticket, 50 Instant)
    Offer: 150% on first deposit up to INR 5,000 Register

  • Natural8

    Sign-up code "GUTSHOT"
    Offer: 200% bonus up to $500 or $100 in instant rewards Register

  • Pocket52

    Offer: NA Register

  • Poker Tempo
    Poker Tempo

    Verify KYC with "FREE100" to get Rs.100 FREE on sign-up
    Offer: "WELCOME500" - First deposit bonus of 150% + 1 Lakh GTD Register

  • PokerStars India
    PokerStars India

    Deposit Rs.500 and get First Deposit Bonus of Rs.2,500 + 5 tickets to Depositor Freerolls
    Offer: "IMIN2500" Register

  • Spartan Poker
    Spartan Poker

    Sign-up with "GUTSHOT"
    Offer: "GUT300X" to get 300% on your deposit Register


    Sign-up with "GSBLZ"
    Offer: NA Register

BSU box banner

Want to share your thoughts about poker?

Then click the button to submit your article.

Facebook + Follow

Instagram + Follow

Pocket52 1 Lakh freeroll

Pocket52 1 Lakh freeroll