For its entry into the US market, Paddy Power Betfair has rebranded to Flutter Entertainment.
Spurred by a period of rapid change in the sector, the rebrand aims to put the bookmaker firmly on the front foot after losing market share in Britain to the likes of William Hill, Bet365 and Betfred.
Newly relaxed rules on US sports betting have opened up virgin new markets for the betting giant, which is putting all its chips on the table to take full advantage of a unique opportunity across the Atlantic.
Chief executive Peter Jackson said: “Our collection of challenger brands are well positioned in their local markets. Paddy Power has regained its mojo, taking share following product improvements and some of our ‘classic’ marketing.
“The opening of the US online sports betting market has the potential to be the most significant development to occur within the sector since the advent of online betting. Rather than announcing our plans, we have moved quickly to give ourselves the best chance to win in that market.”
Shareholders have yet to approve the overhaul.
Flutter isn’t alone in shaking things up with William Hill reportedly seeking out a new creative agency as part of a US media review. Paddy Power itself hasn’t conducted a review of its own since 2017, when it dropped Lucky Generals in favour of Chime.