Mobile gambling boosts profits at Paddy Power

Wagers via mobiles and tablets now account for three quarters of profits

Irish bookmaker, Paddy Power, has posted a 15 per cent rise in annual profits thanks to the growing number of punters making wagers on mobiles and tablets. Though most of the betting industry has benefited from a surge in mobile betting, Paddy Power has benefited more than most with online wagers now accounting for around three-quarters of its profits.

Said CFO Cormac McCarthy, “For a long time we have invested in technology and looking at trends, and we outrank the industry in terms of that.”

Profit before tax rose to €139.2 million (£120 million), while active customers were up 44 per cent to 1.6 million – double the level of a year ago.

Shares, which are currently trading at a record high, rose 4.4 per cent in London yesterday [5th March 2012].

About Dave Evans

Dave Evans is a long established commentator on both the IT and cellular industries. His current focus is on share price trends within the sector. You can email him here
This article was published in mobile gambling, mobile news and tagged , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>