The Ireland-based bookmaker Paddy Power, announced yesterday that the company has experienced significant growth in the second half of 2014, aiming towards making the growth even greater next year.
Year-on-year, Paddy Power's revenues increased a massive 38% from July 1st until November 16th. Sportsbook revenues went up 41%, while the amount being staked on the platform increased by 14%.
“In the second half of the year-to-date, strong revenue growth has continued in all our businesses. We are benefiting from good top-line growth and favourable sports results. Sportsbook stakes were up 18% online and 3% in retail on a like-for-like basis, with total group net revenue up 38%. The board now expects mid to high teens percentage growth in earnings per share for the full year.” A Paddy Power statement said.
With the great news, Paddy Power also announed that they are expecting to open 30-40 new betting shops next year, beating the trend of closing down shops. This might have something to do with the fact the fixed-oddds betting terminal revenues increased by 12% despite new regulatory rules.