Paddy Power Blames Winning Punters for Lagging Profit Margins

Written by:
Guest
Published on:
Aug/10/2017

Ireland-based Paddy Power says results favourable to punters have resulted in a slowdown in growth the first half of the year.

Shares in the betting firm have fallen sharply in recent days with the sudden news that long time exec Breon Corcoran had resigned as CEO.  

The company was the biggest faller on the FTSE 100 on Tuesday, down 5% on the news that revenue growth had fallen 9% from 18% in the same period a year earlier. First-half revenue of £827m included a £40m boost from the weakness of the pound since the Brexit vote.

The shares took another hit Wednesday, dropping 0.22% to 7,244.35.

Paddy Power Betfair said on Monday that Corcoran would be replaced by Peter Jackson, a non-executive director at the gambling firm and chief executive of the UK business of Worldpay.

- Aaron Goldstein, Gambling911.com

Business/Financial News

PPH Services At Premier Pay Per Head Aimed At Making The Client Even Happier

PPH Services At Premier Pay Per Head Aimed At Making The Client Even Happier

When you decided to move your site to the lofty pay per head platform, you knew very well that it would help you get more clients. But you did not see how that would be possible. 

MGM Buys Professional Sports Team, Relocating to Vegas

MGM Buys Professional Sports Team, Relocating to Vegas

Another professional team is set to move to Sin City after being purchased by casino company

Why Players Decide To Stick To Pay Per Head Sites

Do You Know Why Players Decide To Stick To Pay Per Head Sites At TopPayPerHead.com? 

The Importance Of Having A Call Center With Premier Pay Per Head

The Importance Of Having A Call Center With Premier Pay Per Head

It is inevitable for a pay per head bookie site to operate without putting the interest of clients ahead.

White Label Sportsbook Software Wisconsin

White Label Sportsbook Software Wisconsin

White label sportsbook software will be in high demand this football season.

Syndicate