Online Casino Style: News - Great First Half for Paddy

09/11/2010		Online Casino Style - News: Great First Half for Paddy
Home History Games News Dictionary		Investors for the online gambling company Paddy Power are celebrating this week with the release of the latest trading update for the Irish company, with the administration confirming that the internet casino company is right on track to make their year end goals for 2010. In fact, they are so ‘on track,’ that the estimates for the year expect to see a full thirty percent increase in earnings by the time December closes, news that is welcomed by the stockholders as well as players. The second half of the year seems to be holding a high sports betting trend established in June, while the World Cup was taking place in South Africa, and giving reason for online gamblers to place bets. The activity over the summer months surrounding the World Cup action saw a total gross win of more than €18 million, a jump of four times the amount wagered in the same period for 2008, and significantly higher than the numbers inspired by 2006’s World Cup. Paddy Power’s pre-tax profits were likewise up in the first half of the year, to June 30th, increasing 54 percent to €52.5 million. The trading update was released to the rest of the online gambling community by Chief executive officer, Patrick Kennedy, who said that the monies associated with the firm thus far were significantly higher than they had been in 2009, showing a sincere and effective rededication by the Paddy Power team to up their game. Gross win was up 117 percent to €112 million; operating profits were also up to €36.1 million, a growth of 66 percent; online gambling activities turned out to be a major contributor to recent months’ action, accounting for 73 percent of the operating profits. “The group's strengths - product innovation, better value for customers and brand differentiation - position us well for further growth,” Kennedy said in a statement. “We have significantly strengthened our online market position, ending the period with greater scale, more customers and enhanced capabilities, as well as substantially higher profits, compared to a year previously. At the same time, we continued to expand internationally, whilst increasing market share in retail.”

09/11/2010

Online Casino Style - News:
Great First Half for Paddy

Investors for the online gambling company Paddy Power are celebrating this week with the release of the latest trading update for the Irish company, with the administration confirming that the internet casino company is right on track to make their year end goals for 2010. In fact, they are so ‘on track,’ that the estimates for the year expect to see a full thirty percent increase in earnings by the time December closes, news that is welcomed by the stockholders as well as players.

The second half of the year seems to be holding a high sports betting trend established in June, while the World Cup was taking place in South Africa, and giving reason for online gamblers to place bets. The activity over the summer months surrounding the World Cup action saw a total gross win of more than €18 million, a jump of four times the amount wagered in the same period for 2008, and significantly higher than the numbers inspired by 2006’s World Cup. Paddy Power’s pre-tax profits were likewise up in the first half of the year, to June 30th, increasing 54 percent to €52.5 million.

The trading update was released to the rest of the online gambling community by Chief executive officer, Patrick Kennedy, who said that the monies associated with the firm thus far were significantly higher than they had been in 2009, showing a sincere and effective rededication by the Paddy Power team to up their game. Gross win was up 117 percent to €112 million; operating profits were also up to €36.1 million, a growth of 66 percent; online gambling activities turned out to be a major contributor to recent months’ action, accounting for 73 percent of the operating profits.

“The group's strengths - product innovation, better value for customers and brand differentiation - position us well for further growth,” Kennedy said in a statement. “We have significantly strengthened our online market position, ending the period with greater scale, more customers and enhanced capabilities, as well as substantially higher profits, compared to a year previously. At the same time, we continued to expand internationally, whilst increasing market share in retail.”