• Home
  • News
  • People
  • Veteran bookmaker and Paddy Power co-founder David Power dies aged 77
igamingnext photo
Paddy Power co-founder David Power, who helped build one of the world’s largest betting companies, Flutter Entertainment, has died at the age of 77.

Power, whose family has been in the bookmaking business since 1895, established Paddy Power in 1988 by merging his family’s Richard Power betting shops with operations owned by Stewart Kenny and John Corcoran.

The company later merged with Betfair in 2016 and is now an integral part of Flutter Entertainment.

In a statement, Flutter commended Power for leaving an “incredible legacy” and hailed him “as a great moderniser of our industry.”

“He was an influential voice in Paddy Power’s decision to embrace the power of the internet, kick-starting a prolonged period of growth that saw the company list on both the Irish and London stock exchanges in 2000, become the first bookmaker on the Apple App Store in 2010; and ultimately merge with Betfair in 2016, creating a true leader whose success would allow Flutter to acquire more great businesses and expand aggressively in the US and across the world,” the company said.

“Plucky Irish business”

“David was immensely proud that his plucky Irish business, with its 40 shops initially, paved the way for Flutter to become the global leader in online sports betting and iGaming it is today.”

Power entered the gambling industry in 1970, joining the family firm after qualifying as a chartered accountant.

While he formally left the Paddy Power board in 2013, he continued to operate Richard Power as an on-course bookmaker until his retirement after the 2018 Cheltenham Gold Cup.

“As both a sharp bettor and an accomplished chartered accountant, David always had invaluable insights and challenging questions for successive management teams as a supportive shareholder, whether with regard to performance, product or, usually, our pricing,” Flutter added.

Similar posts