Paddy Power: online drives revenue gains

UPDATE: Paddy Power said its board "looks forward to the remainder of 2013 with confidence given the strong momentum ... and substantial ongoing investment.”

14th May, 2013
Paddy Power

Bookmaker Paddy Power has seen its net revenue rise 20 per cent in the year to date, driven by 29 per cent growth in online revenue and eight per cent growth in retail revenue.

In a trading up date, the company said sports results had been favourable overall, with the group’s sportsbook gross win percentage above normal expectations and above the equivalent period last year, notwithstanding a record number of Irish-trained winners at Cheltenham.

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