Mobile Betting Accounts Almost 40% Paddy Power’s Online Revenue

May 28, 2012 - by mosesbet · Filed Under sports news Leave a Comment 

From its total revenue, Paddy Power close to 40% is accounted for by mobile betting revenue. The reason behind the increase in the mobile revenue is because of the increase in the resources designated to mobile gaming and some other opportunities for business development. The boost in the mobile revenue is due to the tremendous increase in the number of customers, by 40%, specifically in the Australian region. Paddy power also accounted an increase of 41% in its website unit.

The total turnover of mobile gambling services from Paddy Power comprises of a quarter of the total number of bets on online sports books in Australia. Paddy Power’s site stake comprises of 38% of the company’s total number of stakes. Paddy Power has shown an increase of 28% in group grosses for 2012 due to tremendous progress in sports and online betting results. Paddy Power in a statement said that all its units are performing very well and have been from 1st January to 15th May this year.

Paddy Power Chairman says increase in investment

Chairman of Paddy Power, Nigel Northridge made a statement at the yearly meeting held at Dublin. He said that due to the present position and strength of Paddy Power, as well as the significant possibilities of online betting, Paddy Power is making increases in its investment for expansion. The results for sports betting have been better in 2012, when compared to last year, with the overall win percentage being higher, he said. Paddy Power shares have increased by more than 2% after the Chairman’s statement.

Turnover comparison for 2011 and 2012

Paddy Power had a massive turnover of €5 billion and the profit was marked at €120 million owing to the growth and enlargement in fresh markets such as Bulgaria and Canada. The Chief Executive Patrick Kennedy mentioned that revenue predictions for 2012 were close to a 17% increase in the earnings for each share, which cost about 245 cents. He also said that Paddy Power was contemplating expansion opportunities in New Jersey and California where currently legalization of online gambling is being reasoned. Paddy Power is on schedule with its expansion into the Italian gaming industry. 26% of the total revenue of Paddy Power is due to its retail revenues.

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