Total year’s results for Irish bookmaker, Paddy Power, were impressive, demonstrating a 31 percent overall turnover increase to almost Euro 1.8 billion.

According to company reports, group gross win increased by 36 percent to Euro 219 million – an increase that was aided by a 64 percent increase in wins from online gaming and FOBTs.

Operating profit reports were also upbeat, showing a 51 percent increase to Euro 45.5 million.  The before tax profit showed a similar percentage increase of 52 percent to Euro 47.6 million.

Paddy Power claims that the success of its online activities is a result of the continued enhancements they have been making in this area.  Using the number of visitors to the site as a yardstick, Paddy Power is now the third largest online sportsbook in the United Kingdom.

The successful online sportsbook also showed that its online operating profits rose by 38 percent to Euro 23.4 million and its online gross win increased by 57 percent to Euro 67.4 million.

Posted on: March 12, 2007

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