PokerNews · Mar 10, 2016
Paddy Power Revenues Top €1 Billion For the First Time
Paddy Power BetfairThis week, Paddy Power Betfair released its first financial figures since the merger of Paddy Power and Betfair. As the companies have not long been merged, Paddy Power unveiled its full-year figures for 2015, while Betfair announced its third-quarter results of 2016.
Revenues at Paddy Power weighed in at almost €1.1 billion, an increase of 24 percent compared to 2014, thanks to double-digit growth across all of its online and retail divisions. Operating profit is up 10 percent to €180 million, although this figure would have been up 50 percent had the Irish gambling giant not been hit with a €66 million bill for new taxes and product fees.