Paddy Power Betfair buys 51% stake in Georgia’s Adjarabet

Business News

Paddy Power Betfair is buying an initial 51% of Georgian online betting and gaming company Adjarabet for 101 million pounds ($132.5 million), with an option to buy the rest after three years.

The betting giant said on Friday that it will take a 51% stake in Adjarabet, which has a 40% share of the Georgian market.