Irish casino news and Paddy Power

It’s time for us here at onlinecasino.ie to take another look at the latest Irish casino news which this month features our favourite online casino operator Paddy Power. With the regularly reported problems suffered by the other major high street bookmaker in Ireland, Ladbrokes, Paddy Power seem to spend much of their time under the radar in terms of their commercial performance but last week that all changed when they reported their second half trading results. Net revenues for the period since the start of July leapt by a staggering 38% and led to the company upgrading their forecasts for the whole year significantly. Apparently, according to a Paddy Power spokesman much of this huge growth resulted from the poor start to the premiership season by Manchester United, with their best football gambling results all featuring this one club. Revenues from the other main sports betting sector, horse racing were apparently about average which meant that the company benefitted fully from the unusual football results. Paddy Power also reported that online betting was up 42% reflecting what we often report in these pages that online gambling has really taken hold, particularly through mobile devices which accounted for 58% of all online bets. Shares in Paddy Power rose by 1.42 euros to 62.50 euros, not unexpected following the projected percentage growth in earnings per share in the region of the high teens. Shareholders are also aware that Paddy Power is a company with no debt and an estimated cash pile in excess of 200 million euros. Here at onlinecasino.ie we always enjoy being able to report good news for the online casino and online sports gambling sector, particularly when reporting on Irish casino news. Congratulations to Paddy Power.