Paddy Power Kicks Off The Year Up 21 Percent

One company that surely isn’t feeling the negative impact from the April 15 indictments in the US of three large Internet poker rooms is Ireland’s biggest bookmaker, Paddy Power, which announced this week its revenues were up 21 percent the first half of 2011 based on the same period last year.

The company’s move into the Australian sports betting market helped boost growth an amazing 298 percent, according to a statement issued by the firm.  While growth slowed in recent months, the company said it anticipates an increase by year’s end. 

Chairman Nigel Northridge said the strong momentum in 2010 had continued this year, with revenues at Paddypower.com increasing 33 per cent, while retail revenues were up 7 per cent.

- Aaron Goldstein, Gambling911.com