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Paddy Power’s first financial figures for 2011

Paddy Power, Ireland’s largest bookmaker released its financial statistics suggesting a strong start in 2011 with a 21% increase in total gross win over last year between the 1st of January till the 15th of March. The statement comes ahead of the Irish firm’s Annual General Meeting in Dublin

The sportsbook department saw an increase of 14% on last year and the gross win for its non-Australian online sportsbook rose by 60% when compared to last year. The mobile department saw  an astonishing 298% increase. This was helped by some iPad, iPhone and other Smartphone’s applications released late last year.

Paddy Power’s Irish retail Business unfortunately ddin’t see an increase. Quite the opposite, because the like-for-like gross win decreased by 10% on last year. The chairman Nigel Northridge described it as “continued momentum” following a “record” 2010.

Australia’s growth also made an impact on the figures after the shareholder’ approval of purchasing Sportsbet at an Extraordinary General meeting in February.

The chairman Nigel Northridge said that although the 2010 world cup figures were strong,  “the strong underlying momentum in the group should help to offset these factors, and consequently the board looks forward to the balance of 2011 and beyond with confidence.”

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