Merged bookies Paddy Power-Betfair's share price falls 1.4%

Shares in the newly merged Paddy Power-Betfair betting services giant closed its first day of trading in Dublin yesterday, down nearly 1.4% at €139.

It followed Paddy Power shares jumping 4% on Monday — the last day of trading before its merger. However, the €8bn merger — which creates a €1.4bn revenue-generating industry leader —is fully expected to offer long-term investment attractiveness.

Paddy Power shareholders are set to share an €80m windfall early next month, as one of the positive consequences of the merger.