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Paddy Power Delivers 2015 HY1 Results

Wednesday August 26,2015 : PADDY POWER DELIVERS STRONG HY1 RESULTS

Australian market a standout performer.

On the back of a possible merger announcement with Betfair  Paddy Power plc has reported a 33 percent rise in operating profit for the six months ended June 30, 2015.

Key group performance highlights include:

-    Operating profit growth of 33 percent to Euro 80 million, or 68 percent before Euro 32 million in new taxes and product fees;
-    Net revenue up 25 percent with strong double digit growth across all Online and Retail divisions;
-    Diluted EPS up 31 percent to 144.8 cent;
-    Euro 391 million returned to shareholders through B Share Scheme;
-    Interim dividend up 20 percent to 60.0 cent per share;
 
Online Highlights:
 
-     Net revenue growth of 34 percent to Euro 345 million, with sportsbook up 42 percent and eGaming up 14 percent.  Operating profit up 45 percent to Euro 70 million:

-    Online (ex Australia): net revenue up 26 percent to Euro 200 million with sportsbook up 37 percent and eGaming up 14 percent.  Operating profit increased by 21 percent to Euro 31.6 million, despite Euro 28 million in new taxes;

-    Online Australia: Sportsbet is now the largest online brand in Australia, driven by accelerated market share growth with sportsbook net revenue up 46 percent to Euro 151 million and stakes up 37 percent.  Operating profit increased 69 percent to Euro 38.8 million;

-    Italy:  Substantial operational improvements in Italy, where net revenue grew by 24 percent, and operating costs fell by 19 percent.  Operating loss reduced by Euro 4.2 million to Euro 4.7million;

-    Mobile net revenue accounted for 67 percent of online revenue, with 78 percent of active customers transacting via mobile.
 
Retail Highlights:
 
-    UK Retail net revenue up 21 percent (9 percent like-for-like).  Operating profit up 3 percent to Euro 12.0 million despite Euro 2 million of additional Machine Gaming Duty and the negative impact of new machine regulation.  Estate now 336 shops with a net 13 units opened in the period;

-     Irish Retail net revenue up 14 percent (10 percent like-for-like).  Operating profit up 36 percent to Euro 10.6 million.  Estate now 252 shops with 7 units opened in the period.
 
Paddy Power said it expected to be ahead of 2014 and market forecast in terms of operating profit for the full year 2015 period.

“We have made substantial progress implementing the strategy we set out in March, with further payback to come from new mobile product releases, refreshed marketing campaigns and efficiency gains,” commented Andy McCue, chief executive of Paddy Power plc.



Gambling News :

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

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