Paddy Power Delivers In Trading Update

Despite unfavourable sports results and a tough comparative year

Paddy Power's interim trading report for the period July 1 to November 15, 2015 delivers strong underlying growth despite unfavourable sports results.
The company said strong top-line momentum had continued during the second half in line with the Board's expectations leading to their continued expectation of a mid to high single digit percentage increase on 2014's operating profit.
Key performance indicators (in constant currency) for the period ending November 15, 2015 include:
-Consolidated sports betting stakes up 29 percent, and a 5 percent increase in net revenues.
-A 23 percent increase in online sports betting stakes and a total net revenue increase of 7 percent.
-Australia – online – Total stakes increased by 43 percent and net revenue by 33. New customer acquisitions increased 22 percent in the post-World Cup period. Telephone, which is predominantly a betting-in-running channel, grew stakes by 38 percent.
-UK and Irish online business – total net revenue decreased by 9 percent, new customer acquisition was up 20 percent, sportsbook stakes increased 11 percent, and eGaming revenue grew 6 percent.
-Italy – Online – Revenue increase of 3 percent, driven by strong growth in eGaming.
-Group Retail, sports betting stakes grew by 12 percent and total net revenue by 7 percent.
-UK Retail delivered a 5 percent like-for-like growth in sportsbook stakes. However, like-for-like sportsbook net revenue decreased by 8 percent, attributed to adverse sports results. Machine gaming net revenue grew 6 percent on a like-for-like basis.
-Irish Retail like-for-like stakes grew 8 percent and net revenue by 4 percent.
-Net debt stands at Euro 96 million.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,457


The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.

See More Posts