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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.”



Gambling News :

New Racing UK free-to-watch show - Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday

MLB Odds: Stroman Gets the Nod Against Royals - The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.

Microgaming in bingo software deal with Marathonbet - Marathonbet’s loyal customers will now be able to enjoy an extensive Bingo offering – marking another big expansion of its online gaming collection.

Microgaming QuickFire enters Coloumbia - Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.

Partypoker to sponsor WSOPC Uruguay - Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.

MLB Odds: Jays Hope to Spoil Orioles’ Visit - The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.

Money Storm Casino - Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.

Big Online SLot Win on Ultimate 10X Slot - At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000

MPN Greatest Poker Player in the Universe - The MPN announces the third annual Universal Championship of Poker (UCOP III), boasting €750,000 guaranteed across 59 tournament events this September

PartyPoker Exits Australia - From 31st August 2017 partypoker players will no longer be able to play from Australia. Players’ deposited funds are safe and available for withdrawal.

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