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DATE: May 24 2012
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Poker.co.uk - Poker News Archive

Wednesday 4th March 2009

Paddy Power Continues Focus On Online Gaming

Recently, large numbers of high street bookies have been focusing on the online sector of their business, hoping to tap in to a fast-expanding internet market. Irish bookmakers, casino and poker providers PaddyPower have announced that last year 70% of their profit came from paddypower.com. The firm operate over 10 sites including casino, poker, sports betting and more. In 2008 profits rose 34% for the online bookmaker, with an overall 5% growth to €75.5m. Online gambling is one industry that seems to be on the up at the moment, defying the trend. Chief executive Patrick Kennedy said, 'We have grown earnings per share by 10% in 2008 despite the challenging environment. Our online operations performed particularly strongly with a 48% increase in operating profit in constant currency. The results in the second half of 2008 also demonstrate the success of our strategy.”

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Source: OnlineCasinoNews

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