Invested: Grand rationale

While the Paddy Power/Betfair merger has created a Goliath, the betting industry is no two-horse race – with those hoping to make gains prepared to wait for the best odds of long-term success

As a consequence, patient investors seem to be taking a wait-and-see approach until there is – as Lewis puts it –“a better entry point, or more clarity on its international plans or balance sheet plans before buying”. Picture: Bloomberg

Scale. When it comes to the Paddy Power Betfair merger, it’s all about scale, according ...