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

Even at Just Over $4000, Bitcoin Still in a Bubble

Even at Just Over $4000, Bitcoin Still in a Bubble

The price of crypto-currency Bitcoin Friday morning was $4357.63.  It had surged to an all-time high of $4500 earlier in the day.

Online Bookie Tips: Customer Service Is Key To Profit

Online Bookie Tips: Customer Service Is Key To Profit

Online bookies can beat their competition with better customer service. Find out how to leverage your customer service to retain clients - and make more cash.

3 Important Things To Consider Before Launching Your Pay Per Head Site

3 Important Things To Consider Before Launching Your Pay Per Head Site

By virtue, if a website is impressive from its looks, it will attract many viewers out there.

Why Should I Use Pay Per Head Online Bookie Software?

Why Should I Use Pay Per Head Online Bookie Software?

Many local bookmakers wonder why they should pay for price per head software.

Paddy Power Blocked From Twitter

Paddy Power Blocked From Twitter

With more than 632,000 followers, the Dublin-based betting firm appears to have violated Twitter provisions. 

Syndicate