The Irish bookie Paddy Power, showed that the bumper year it under went in 2012 will be surpassed with ease this year as the online gaming continued yesterday. The company’s chairman, Nigel Northridge, announced to Paddy Power shareholders at their annual meeting that profits are up to 20 percent for this year to date.
The surge in online sales that has gone up by 29 percent along with mobile revenues that have doubled from a year ago is mostly responsible for this.
Paddy Power, while boasting of their early investment in mobile and online gaming has said that the online market is now making up about 42 percent of their sales and that is more than any competitor.
Although, Northridge is reported to have stated yesterday that there are still things happening with bricks-and-mortar operations.
17 new retail outlets have been opened by Paddy Power so far this year that are leading to an eight percent rise in profits at the division while sales lacking the new properties are only marginally raised.
Favorable sporting results have been boosted within the company this year with multiple not fancied winners of high-profile events improve in its return. Northridge is reported to have said that football results have gone so good for Paddy Power that it has been able to pay out on Manchester United winning the title in February despite suffering disproportionately from a bumper Cheltenham Festival for Irish Jockeys.