Irish Times – Strong growth in bookmaker Paddy Power’s Australian business compensated for a tougher time nearer home and played a key role in increasing its profits by 1 per cent to a record €141 million last year. Paddy Power yesterday reported an increase in net revenue in 2013 to €745 million from €663 million the previous year and said that pretax profit was up 1 per cent at €141 million from €139.2 million. Operating profit grew at a similar rate to €137.4 million in 2013 from €136 million in 2012. However, “adverse results”, including a large number of fancied…

iGaming Business – Irish bookmaker Paddy Power has cited the growth of its online gambling business as the reason behind a jump in revenue, operating profit and EBITDA during the 12 months through to December 31, 2013. In its preliminary results for the year, the company posted net revenue of €745.2 million, an increase of 17% on the €662.7 million achieved in the previous year. Operating profit also grew slightly from €136 million in 2012 to €137.4 million in the last 12 months, whilst EBITDA also jumped 8% from €168.2 million to 176.9 million. The company highlighted the success of…

Irish bookmaker Paddy Power has cited unfavorable football and horse racing results for an anticipated fall in full-year operating profits. In a trading update for the period covering July 1 to November 17, the company said that its full-year operating profit for 2013 is likely to be around €11 million ($14.9 million) lower than the figure it forecast three months ago. Paddy Power highlighted unexpected results in the Australian Spring Horse Racing Carnival and the Uefa Champions League club football tournament. “We now expect low to mid single digit percentage operating profit growth in 2013 in constant currency, before currency…

iGaming Business – Irish bookmaker Paddy Power has confirmed it is to become the first gambling firm in the US to offer the Parx live horseracing stream service from news and sport coverage provider Satellite Information Services (SIS) Betting. Parx was introduced by SIS earlier this year as part of an upgrade of its SIS+ channel. The service covers racing from Philadelphia Park. Paddy Power will now offer Parx coverage via its website, mobile and tablet services. “Paddy Power racing customers have high expectations and the combination of live streaming and fixed pricing means we can continue to deliver the…

From iGaming Business Irish bookmaker Paddy Power is to become the first company to trial real-money sportsbetting on social networking website Facebook. Paddy Power In-Play, an in-house developed product, is being trialled as a Facebook application for UK desktop customers; a market the social network has selected for the initial launch of real-money gambling on the platform. The app will bring social engagement to online betting, allowing customers to bet on a range of sports through the website while also giving them the opportunity to engage with other users. Player participation will be subject to strict age verification checks. Peter…

From iGaming Business Online and land-based casino games and solutions firm Bally Technologies Incorporated has signed a deal that will see its range of online slots made available to Paddy Power players. The last few months have seen Las Vegas-based Bally Technologies sign similar agreements with operators including Intellectual Property and Software (IPS) Limited and Mr Green while this latest deal will see its range of real-money slots launched via the paddypowergames.com domain. “Partnering with Paddy Power is a great opportunity for Bally Technologies as we continue to expand our reach in the global online gaming business,” said Michael Probert,…