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.
– 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.
– 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."