News Feed
High Noon Casino

Paddy Power 2012 Financial Year on Track


This SlideShowPro photo gallery requires the Flash Player plugin and a web browser with JavaScript enabled.

Large Irish land and online betting firm Paddy Power had a cracker of a
financial year in 2011, and according to its newly published interim management
statement for first quarter of 2012, it is on track for another bumper year.

In the statement, Paddy Power’s financials for the first 19 weeks of 2012 up
until May 15 showed that its overall revenues year-on-year have risen by a
noteable 28 per cent. This sharp increase has been attributed to growth in the
firm’s iGaming operations.

Paddy Power’s Q1 interim management statement also revealed that the company
chalked up a record Q1 turnover of €4.6 billion, and a €120 million operating
profit. Year-on-year, Paddy Power’s net revenues grew by 17 per cent, while its
earnings per share improved by 26 per cent.

Growth in Paddy Power Online and Mobile Betting

Said Chairman of Dublin-based Paddy Power, Nigel Northridge, ‘Paddy Power’s
strong momentum has continued into 2012 supported by substantial ongoing
investment. The scale of the group also increased significantly with strong
growth in our existing markets particularly in online and mobile betting and
further international expansion progressed in Canada, Italy and Bulgaria.

‘All
divisions have performed strongly. Within online, net revenue has grown by by 28
per cent in paddypower.com and 37 per cent in Australia. This was driven by
continued strong growth in online active customers of 40 per cent comprising a
30 per cent increase in Australia and 41 per cent growth in paddypower.com,’ he
said.

Mobile Accounted for 38% of Bets on paddypower.com

Northridge went on to say that the success of its Australian and online
businesses were fuelled by the success of its mobile betting facilities, with
mobile revenues up 241 per cent. He said that in April the firm’s mobile
turnover came to 38 per cent of total sports bets on paddypower.com and 23 per
cent of total online sports bets in Australia.

The Paddy Power Chairman also
revealed that recent sports results have been very favourable to the company in
terms of its sportsbook gross win percentage, which was higher in Q1 of this
year than Q1 of 2011, and beyond the board’s expectations.

Currently Paddy Power has €202 million in net cash (€149 million excluding
customer balances) and looks set to go into the second quarter in the same vain
it completed the first quarter of 2012.

Casino Offers
Club USA

Featured Slots
The great trilogy has hit the computer screen as an amazing online slot game.
Featuring one of the most beloved super heroes, Iron Man slots is packed with great graphics, sound effects, special features and a bonus game. Coin values range from £0.01 to £5 with a maximum payout of 5,000 coins.
Videos
Most Read