Online gaming company Betfair has announced the acquisition of Paddy Power’s chief operating officer Breon Corcoran to serve as its chief executive officer, Reuters reported on Thursday. Corcoran will join the British-based Betfair in August.
Current Betfair CEO David Yu said a few months ago that he will not renew his contract.
Corcoran, a former J.P.Morgan employee, played a key role in Paddy Power’s expansion into Australia.
Corcoran will take over control at one of the world’s largest betting exchanges. The publicly-traded Betfair reported £340.9 million in revenue in 2010.
Follow Brian Pempus on Twitter — @brianpempus
