Paddy Power Betfair, the Irish sports betting and gaming operator, has announced an increase in its revenue and pre-tax profits in the first half of 2018.
The bookmaker’s revenue has gone up from £827 million to £867 million – a 7% increase compared to the same period last year. Their pre-tax profit has gone up to £106 million from £102 million, by 4%.
According to the earnings report for the six months ended 30 June 2018, Paddy Power Betfair has experienced a sustainable revenue growth across its four operating divisions: Online (up by 13%), Australia (up by 19%), Retail (up by 6%), and USA (up by 20%).
CEO, Peter Jackson, said: ‘It has been a busy and successful few months for Paddy Power Betfair. We have made substantial progress against our strategic priorities and trading in Q2 was good, with all brands and operating divisions contributing to the Group’s double-digit revenue growth.
The Fifa World Cup contributed approximately £8 million, after estimated cost of sales and marketing investment, for the total tournament period.