David Power, a pivotal figure in the betting industry, passed away peacefully on 8 July, surrounded by loved ones. His legacy extends beyond his role as CEO of Paddy Power, shaping the trajectory of modern betting.
The Power family’s connection to betting spans generations, rooted in odds compilation at Tramore Racecourse since 1895. David Power himself managed the family’s betting shops before steering them towards expansion.
In 1988, a partnership with Stewart Kenny and Vincent O’Reilly marked a turning point. The merger of their shops with the Powers’ established the Paddy Power brand, named after David’s son. Under David Power’s leadership from 1988 to 2002, Paddy Power flourished. Expanding online and diversifying into casino gaming, the brand became synonymous with innovation in the betting sector.
Even after stepping down as CEO, David Power remained a guiding force until 2013. His insights and strategic foresight helped Paddy Power list on the Irish and London Stock Exchanges in 2000, and pioneer the launch on the Apple App Store in 2010. In 2016, Paddy Power merged with Betfair, catalyzing its global footprint. Subsequent acquisitions, including FanDuel and The Stars Group, rebranded as Flutter Entertainment solidified its position as a leader in sports betting and igaming.
Despite the evolution to Flutter Entertainment, Paddy Power remains a cornerstone brand. David Power’s vision and entrepreneurial spirit continue to resonate, driving Flutter’s exponential growth and revenue of $11.79bn in 2023. Flutter Entertainment pays tribute to David Power’s legacy and extends condolences to his family. His journey from local Irish betting shops to global industry leadership exemplifies innovation and perseverance in the world of betting.
The post Remembering David Power, A Legacy in Betting appeared first on iGaming.org.