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March 9 - Paddy Power has positioned itself firmly as one of the world's most successful bookmakers through the release of its latest financial figures.
The Irish group reported that pretax profits rose to €104.2 million in the year ending December 2010. This was a rise of 55% compared to the previous year.
A strong second half ensured that Paddy Power's revenues were up 39% (to €3.834 billion) for the year.
Some other interesting statistics coming out of the report were as follows:
- Two thirds of Paddy Power's profits were generated outside of Ireland.
- Three quarters of the group's profits were generated online.
- Active internet players grew by 56%.
- UK customers grew by 56%.
- Sportsbook bettors grew by 45%.
- Casino gamers grew by 48%.
The Chairman for Paddy Power, Patrick Kennedy said: "These are record results for Paddy Power, with increased profits for all divisions."
"They demonstrate the benefit of our ongoing business development initiatives and investment, which position the group well for further growth in 2011 and beyond," he said.
Turnover is already up 16% this year, with total gross win up by 38% in February, compared to the same period last year.
The group continues its plans to expand further into the European market. Pay Paddy Power a visit today.
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