Saturday June 6, 2020

Paddy Power takes Q4 revenue hit due to adverse betting results

Trump's surprise victory in the US election cost the bookmaker £5 million

23rd January, 2017
Paddy Power has raised its full-year profit forecast

Paddy Power Betfair released a trading statement this morning, in which it said it expected full-year earnings to be line with guidance despite adverse betting results, including the unexpected outcome of the US election, hitting the bookmaker's revenues by £40 million in the fourth quarter. The company will publish its annual results on March 7.

Here are the key points from the trading statement:

- Group revenue rose by 18 per cent...

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