Fox Gaming Group Serves as NJ Regulatory Counsel in $1.65 Billion Internet Gaming MergerMarch 29, 2016 – Press Releases
Nicholas Casiello Jr., chair of the Gaming Practice Group, and Patrick Madamba, Jr., counsel, at Fox Rothschild LLP, served as New Jersey regulatory counsel for Ireland-based Paddy Power in its recent multibillion-dollar merger with UK-based Betfair, creating Paddy Power Betfair PLC.
The deal closed February 1, 2016, and the combined companies have a gross revenue of $1.65 billion and profit before tax of $327.8 million.
The deal creates the world’s largest public online betting and gaming company, including the operation of an Interment gaming website in New Jersey.
For more than 30 years, Casiello has practiced all aspects of gaming law, including licensing, acquisitions, compliance plans and investigations and financing. Named as one of the leading gaming attorneys in the world by Chambers Global, Casiello represents an array of clients in the gaming industry including, casinos, gaming equipment manufacturers and other technology providers, private equity firms and other investors.
Madamba is counsel with the firm and has practiced gaming law for almost two decades. He has represented casinos, private equity and investment banking firms, real estate developers, Internet gaming companies and gaming equipment vendors.