PADDY POWER INTERIM REPORT SHOWS STRONG PROGRESS
16th November, 2012 at 03:35:38
Mobile betting booming
Irish bookmaker Paddy Power's latest interim management statement for the period July 1 to November 14, 2012 shows strong growth in net revenue of 23% and a good performance across most business sectors.
Key indicators include:
- Group sportbook amounts staked up 20 percent
- Group total net revenue, up 23 percent
- Net cash availability of around Euro 169 million at 14 November, excluding customer balances.
Online (ex Australia ) :
- Paddy Power.com (ex Australia ) sportsbook amounts staked increased by 28 percent.
- Paddy Power.com (ex Australia ) sportsbook net revenue increased by 26 percent.
- Gaming/B2B net revenue growth grew 14 percent
- Total net revenue increased by 21 percent
Mobile betting is positively impacting online turnover growth and sportsbook gross win percentages for the Group. In October, mobile turnover as a percentage of total online sportsbook stakes was 27% in Australia (June 2012: 25 percent) and 45% in paddypower.com (June 2012: 41 percent).
The most rapid mobile penetration continues to occur in gaming with mobile gross win in October accounting for 28% of Paddy Power Casino
(June 2012: 19 percent) and 25% of Paddy Power Games
(June 2012: 20 percent).
- Online turnover derived from Australian operations continued its strong upward growth trend increasing by 24 percent.
- Online net revenue increased by 39 percent
- Total net revenue increased by 34 percent
Related News Tags: Bookmakers, Paddy Power, Paddy Power Games