Irish betting giant Paddy Power has released its latest financial results, noting higher revenues but a negative impact caused by sports results that went in favor of customers.
Key financial indicators for the period ending November 17th, 2013 were:
Group sportsbook amounts staked up 14%.
Group net revenue up 7%.
Online (ex Australia ) sports turnover is up 15% and eGaming/B2B net revenue has grown 17%.
Australian online turnover growth has accelerated 26% and online net is up 30%. Total net revenue increased 23%.
Italian average monthly sportsbook stakes increased by 84% in September to October. Holds an estimated marketshare of around 8%.
Retail sportsbetting turnover up 5%.
Mobile delivered 47% of Paddy Power's online revenue. 63% of the firm's active customers transacted via mobile in October.
As of November 17, 2013 net cash amounted to €253 million, or €171 million excluding customer balances and no debt.