Paddy Power reports better results than in 2009

Last year we reported in our casino news feature that most sportsbook operators were complaining about the run of results going against them but now the news from Irish casino and sports book operator Paddy Power is that the gross win has returned to normal levels so far in 2010. Nigel Northridge who is chairman of the group has reported in casino news that online business excluding Australia had a total gross win up by 32% and bet volume growth also increased. This was attributed to significant investment and,  as we have previously reported in casino news, a general upturn in the popularity of online gambling. With the Soccer World Cup coming up (sadly without Irish participation) Mr Northridge went on to say that “The Board looks forward to the balance of 2010 and beyond with confidence”. Onlinecasino.ie can however report the news  that the Irish retail side of the business where Paddy Power runs more than 200 shops is down year on year despite the online side of the business being up. The online division is driven by casino games, casino and bingo and Paddy Power said that operating profit is marginally ahead ofexpectations. In a separate statement about Australia where Paddy Power has a 51% stake in “Sportsbet” amounts staked increased by 23% overall but again the online business did better with a 31% increase. This casino news feature from Oninecasino.ie believes that Australia could become a very important market in the near future.