Paddy Power
Online Gambling Boom
As reported by the Ireland
Online: "Bookmaker Paddy Power today hailed
the online gambling craze as it generated most of
its profits away from its high street betting shops
for the first time.
"The group said its non-retail businesses
accounted for 63% of operating profits of €17.8m
in the six months to June 30, compared with one-third
of the €18.2m earned last year.
"Online poker has emerged as a global phenomenon
over the past few years and Paddy Power launched
its own version for the game during the period,
enjoying strong growth over summer.
"…Paddy Power already has 74,000 customers
gambling via the web, with two-thirds in the UK,
and operates an online casino as well as telephone
betting.
"The growth in non-retail businesses helped
to shield Paddy Power from the impact of a poor
run of results in the big horse races in the first
six months of this year when many of the favourites
romped home…"
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