Paddy Power Betfair Posts First Half Financials

This story was published more than 2 years ago.

Internet betting and retail group Paddy Power Betfair has posted their first half 2018 financial results, noting that numbers were up in many key sectors.

Key financial indicators for the first half ending June 30th, 2018 were:

  • Revenues up 5% to £867 million, up £40 million from last year, due in large part to World Cup wagers
  • EBITDA down 1% to £217 million in the second quarter
  • Profits before tax up 4% to £106 million
  • Online revenues of £462 million, up 5%
  • Sportsbetting revenues up 5%
  • Retail revenues of £162 million, up 1%

Despite the strong performance, the company is expecting full year EBITDA to be between £460 and £470 million, which is softer than initially expected. The company is factoring in the purchase of U.S. daily fantasy sports group FanDuel, which will give the company a foothold on the burgeoning American sportsbetting industry.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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10 August 2018 - 1:00pm
#1

I think this group doing more than well really, we heard their name more and more really and I guess the reason for their success is not only the merge between those two powerful names in the industry but also their approach to entering markets which are not fully developed or easy accessing.