Paddy Power, the popular Irish bookmaker and provider of various online bingo, poker, and casino games, has just reported on an increase in turnover in the period between July 1 and mid-November. The excellent performance of the group was ascribed to advantageous sports results.
Online sportsbook stakes rose by 18% and retail ones marked a 3% increase. Total revenue grew by 38% compared to last year’s results.
Paddy Power also achieved a 42% rise in turnover from online activities on the back of a 49% jump in sportsbook and a 20% gain in eGaming, as well as B2B activities. Stakes from online activities rose by 18% – a 21% rise was posted in Australia, coupled with a 16% increase outside the Aussie market.
Paddy Power spokesperson also announced that they were particularly pleased with their performance on the mobile sector. It turns out that 58% of their total online turnover for the above-mentioned period was generated out of mobile devices.
Paddypower.com, the company’s UK and Irish online platform, posted a 59% rise in its sportsbook net revenue. Turnover from eGaming and business-to-business activities increased by 19%. What is more, the number of active clients grew by 33%, 23% of which were attracted during the FIFA World Cup. Paddy Power’s Italian site performed in a more than an impressive manner, posting a 72% increase in net revenue for the period in question.
The bookmaker and gaming provider’s retail business also did well. This year, the company launched a total of 73 shops – 53 within the territory of the UK and 20 in Ireland. Thus, their total number reached 562.
Paddy Power’s Irish-based business announced a 4% rise in bettor’s stakes. This brought an 11% increase in net revenue. Stakes in UK retail business rose by 2%, turnover from sportsbook by 20%, and revenue from machine gaming by 12%.
It is extremely important to note that the company reported on not having any debts. In fact, it had €279 million in cash by November 16 – €206 million, if customer balances are excluded.
Back in September, Paddy Power as well as some other major betting companies established the so-called Senet Group, an independent organization whose main objective is to encourage reasonable and responsible gambling standards. A standards commissioner was appointed as a head of the body. Paddy Power shared that they have already taken due measures, concerning their advertising campaigns and more particularly TV commercials. The betting operator also announced that a socially responsible initiative is to be launched in January 2015.
Towards the end of the year, the Responsible Gaming Trust is expected to release its research on machine-operated gaming in the United Kindom. Paddy Power stated that they are keen on seeing the results.
