PaddyPower : Good overall results from Irish online gambling group

Wednesday, November 16, 2011 :  STRONG ONLINE AND MOBILE BOOSTS PADDY POWER
 
Good overall results from Irish online gambling group
 
Irish bookmaker Paddy Power plc released an update for the trading period 1 July to 14 November 2011 showing continued robust growth in both online and mobile.
 
Highlights include:
 
–     UK and Irish Online
      –     An increase in sportsbook stakes of 31 percent
      –     Gaming/B2B revenues up by 33 percent
      –     Proportion of active sportsbook customers transacting via mobile increased to 44 percent in October 2011.
 
–     Australia:
 
      –     Online turnover growth accelerated substantially, up 23 percent compared to 7 percent in HY1/2011.
      –     Proportion of online active customers transacting via mobile increased to 32 percent in October, as compared to 20 percent in July 2011.
 
UK Retail performed strongly, with like-for-like sportsbook amounts staked and machine gaming revenue both up 8 percent and some 40 new shop openings expected in 2011.
 
Irish Retail has seen growth in bet volumes but a reduction in the average stake per bet. Its year-on-year growth later in 2011 will benefit from a weak comparative due to weather disruption in late 2010.
 
A company spokesperson said: "This strong Group performance reflects ongoing investment to grow our existing activities. This investment also positions us for future international opportunities."