Paddy Power Machine revenues up 66%

10/03/2011

Irish bookmaker Paddy Power’s profits have risen by 48 per cent to €104 million last year.

The company published results yesterday showing that the amount wagered by customers in its betting shops, online businesses and over the telephone grew by 34 per cent in 2010 to €3.83 billion.

The UK betting shops were responsible for €7.4 million, 3½ more than in 2009.The addition of 31 new shops to its UK retail business, which was 124 at the year’s end, helped this division, but its like-for-like figures show that customers’ bets and the company’s winnings increased.

Gaming machines, which are banned in the Republic, contributed €24.2 million to its overall UK winnings of €54.2 million.

The contributions by the machines was up 66 per cent on 2009.

Pretax profits grew more or less in line with this in 2010, to €104.2 million from €67.2 million. Operating profits were €103.8 million.

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