Paddy Power has announced a 21% increase in half year profits to the end of June with double digit growth across each of the company’s four divisions.
The company is a major supporter of Irish sport, from rugby to horse and greyhound racing and is known for it’s quirky approach to sponsorship and marketing.
Online and mobile betting has been particularly strong with a 41% rise in the number of active customers. It is expected that such betting from Irish based customers will come into the irish tax net for the first time next year with changes to betting legislation aimed at moving towards a point of consumption basis.
Operating profit in Ireland increased 79% to €9m, by 69% in the UK and by 35% in Australia.
The October Sport for Business Members Round Table will look at the relationship between betting and sport. Contact us today if you would like to be involved.
View all the latest news on the commercial side of Irish sport
Find out more about how Sport for Business can be of benefit to you
Subscribe today for the free Sport for Business daily news digest
