Place your bets on Paddy Power’s ability to clear minor hurdles
Even with the ever-present spectre of regulatory interjection, the Irish-bred bookmaker has built a resilient tech-led business that’s worth a punt
Paddy Power Betfair’s last trading update six weeks ago was a disappointment, with revenues flat and operating profits down 9 per cent. But it is in the nature of a gambling company’s business to have unpredictable setbacks, rarely linked to macroeconomic issues but rather to other more specific events. In this instance the contributor to the poor performance in ‘wintery’ quarter one was the cancellation of racing fixtures – usually caused by hostile weather conditions...
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