11/18/2012 : PADDY POWER INTERIM REPORT SHOWS STRONG PROGRESS
Mobile betting booming
Irish bookmaker Paddy Power's latest interim management statement for the period July 1 to November 14, 2012 shows strong growth in net revenue of 23 percent and a good performance across most business sectors.
Key indicators include:
– Group sportbook amounts staked up 20 percent
– Group total net revenue, up 23 percent
– Net cash availability of around Euro 169 million at 14 November, excluding customer balances.
Online (ex Australia) :
– Paddy Power.com (ex Australia) sportsbook amounts staked increased by 28 percent.
– Paddy Power.com (ex Australia) sportsbook net revenue increased by 26 percent.
– Gaming/B2B net revenue growth grew 14 percent
– Total net revenue increased by 21 percent
Mobile betting is positively impacting online turnover growth and sportsbook gross win percentages for the Group. In October, mobile turnover as a percentage of total online sportsbook stakes was 27 percent in Australia (June 2012: 25 percent) and 45 percent in paddypower.com (June 2012: 41 percent).
The most rapid mobile penetration continues to occur in gaming with mobile gross win in October accounting for 28 percent of Paddy Power Casino (June 2012: 19 percent) and 25 percent of Paddy Power Games (June 2012: 20 percent).
– Online turnover derived from Australian operations continued its strong upward growth trend increasing by 24 percent.
– Online net revenue increased by 39 percent
– Total net revenue increased by 34 percent