July 10, 2024 3 min read

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David Power, Co-founder of Paddy Power, Passes Away at 77

The sports betting legend leaves behind a rich legacy, cementing his status as one of the industry’s most recognizable personalities

David Power, a co-founder of the renowned bookmaker Paddy Power, passed away at 77. Power, who was instrumental in transforming a small Irish betting business into a global powerhouse, died peacefully at the Beacon Hospital in Dublin on Monday. Gaming giant Flutter Entertainment, which owns the Paddy Power brand, also expressed condolences.

David Elevated the Company to New Heights

The Power family’s involvement in the gambling business stretches back over a century. David’s grandfather, Richard Power, initially worked in a drapery shop in Tramore, Co Waterford, in 1896, where he occasionally placed bets for his employers at illegal bookies. This experience led Richard to start taking bets at the Tramore races, marking the beginning of the family’s betting enterprise.

David Power’s journey in the gambling industry began in 1988 when he, Stewart Kenny, and John Corcoran merged their Irish betting chains to create the Paddy Power brand. Starting with just 40 outlets, the trio laid the foundation for what would become one of the world’s leading betting companies, now valued in the tens of billions of euros.

Paddy Power’s bold advertising campaigns, often controversial, played a significant role in its international recognition. As the company’s online business flourished and later merged with Betfair, its founders, including Power, saw their fortunes grow substantially. David Power’s stake in the company rose to around €400 million ($433 million) in recent years.

He Leaves Behind an Enduring Legacy

David Power is survived by his wife, Sabena, and their four children. He has two daughters, Tessa, an artist, and Shani, a trained solicitor now working as a financial controller in Scotland. David’s sons Paddy and Willie followed in their father’s footsteps, contributing to the company’s success in advertising and on-course bookmaking.

Under the Flutter Entertainment umbrella, Paddy Power has evolved to become a global online gambling leader. Reflecting on Power’s legacy, Flutter acknowledged his invaluable insights and staunch support for the business. The company noted that even after departing from the company in 2013, David Power remained strongly invested in the company’s strategy.

David was immensely proud that his plucky Irish business paved the way for Flutter to become the global leader in online sports betting and iGaming it is today.

Flutter Entertainment

The Flutter team, joined by past and present Paddy Power colleagues, expressed condolences to the Power family, honoring David’s significant contributions to the industry. His legacy cements his place as one of the most influential figures in the sports betting space, and his name will live on through his heirs and work. May he rest in peace.

Deyan is an experienced writer, analyst, and seeker of forbidden lore. He has approximate knowledge about many things, which he is always willing to apply when researching and preparing his articles. With a degree in Copy-editing and Proofreading, Deyan is able to ensure that his work writing for GamblingNews is always up to scratch.

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