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Paddy Power names new CEO to succeed Corcoran

Reuters - UK Focus

Aug 7 (Reuters) - Gambling firm Paddy Power Betfair (Other OTC: PDYPF - news) said on Monday it has appointed Peter Jackson as its new chief executive to replace Breon Corcoran, who is stepping down from the role he took up in February last year when Paddy Power (EUREX: 27913021.EX - news) merged with online betting exchange Betfair.

The company also said on Monday it expected underlying earnings before interest, tax, depreciation and amortisation expenses (EBITDA) this year of between 445 million pounds and 465 million pounds ($580-607 million)

The company reported underlying EBITDA of 400 million pounds last year. ($1 = 0.7661 pounds) (Reporting by Rahul B in Bengaluru; Editing by Greg Mahlich)