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PaddyPower Earnings Results

Latest business update shows that World Cup betting helped boost earnings
 
The UK online and land betting group Paddy Power reported in a trading update this week that it is on track for good 2010 full year results that will likely show a 30 percent rise in earnings.
 
The update notes that in the second half of its financial year the company benefiting significantly from betting on the football World Cup, which delivered a total gross win of Euro 18 million - over 400 percent up on Euro 2008 and the 2006 World Cup. Group pre-tax profit for the six months to June 30th rose 54 percent to Euro 52.5 million.
 
Chief executive Patrick Kennedy reported that the group had upped its financial game considerably with gross win up 117 percent to Euro 112 million and operating profit up 66 percent to Euro 36.1 million, with a particularly outstanding performance from online activities, which accounted for an impressive 73 percent of operating profit.
 
The update covered the acquisition of a controlling stake in Australia's Sportsbet, and the group's entry into the French market in a five year partnership with Pari Mutuel Urbain.
 
Australian operations appear to have been rewarding for the group, which reported an online gross win Downunder which soared 45 percent, and an operating profit of Euro 7.9 million.
 
Group players are spread across the UK (43 percent), Ireland (39 percent) and Australia (16 percent).
 
“The group's strengths - product innovation, better value for customers and brand differentiation - position us well for further growth,” chief executive Kennedy reported.
 
“We have significantly strengthened our online market position, ending the period with greater scale, more customers and enhanced capabilities, as well as substantially higher profits, compared to a year previously.  At the same time, we continued to expand internationally, whilst increasing market share in retail.”



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Alegriabet Finally Launches - Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports

International Table Tennis Federation in deal with Sportradar. - The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

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