The marriage between Paddy Power and Betfair has indeed turned out to be a happy one. The iGaming group has surpassed all its departmental KPI’s with first and foremost its financial metrics.
One year after the merger’s completion, the Paddy Power Betfair Plc (PPB) Group enjoys annual revenues for 2017 £1.7 billion, (+0.2 billion up from 2016).
Recording football results was a smart option as the company reported an underlying group EBITDA of £473 million.
According to the FTSE, the sportsbook reports an underlying free cash flow to £395 million and £392 million annual operating profits, 19% higher compared to 2016.
After outperforming most of its set goals, PPB is currently launching new marketing campaigns using a good backup of £20millions, some which will be ushered in new markets, notably in the USA and Australia.
The group isn't projected to stop setting new ambitious roles, focusing on improving its capital structure and launching more products based on its clients’ needs.
Peter Jackson Group CEO of Paddy Power Betfair announced himself as delighted at these positive results:“The business saw continued good growth in 2017, with operating profits increasing by 19%. Our Australian and Retail operations performed particularly well, growing profits by over 40%”, revealing that brand new games will be launched before the Word Cup this summer.
“We saw the benefits of investing in our customer propositions in 2017, with Sportsbet launching a number of product features that give extra value to customers and Betfair moving to a clear market leadership position in its football pricing”, he said .
He estimated that the product’s high performance allows the company to expand to new markets.
Peter Jackson seemed rather optimistic about the group’s future: “Our strengths in operating efficiently and responsibly will enable us to build a business that can sustainably generate shareholder returns over the long term.”
A few words on Paddy Power Betfair
Paddy Power Betfair is one the biggest bookmaker globally and a part of the top 100 FTSE list. It operates under many brands including the major couple Paddy Power - Betfair and Sportsbet as well. The two groups agreed on a merge in 2015.
Why choose Paddy Power
- Incredible range of sports
- Suitable for football lovers
- Cash Out
- Multiview option in live betting section
- Many payment methods
- Quick withdrawals
- User friendly website
Paddy is the best example of “united we stand” in betting business, as they started as a merger of all Irish bookies, who expanded in many countries and eventually merged with Betfair. Nowadays Paddy’s popularity is exceeding the British Isles, their main area of interest. They’re one of the first bookmakers who took advantage of odds as a commercial campaign, offering odds on bizarre events to attract publicity. Their services could be complete if they added an Asian Handicap option to their great number of alternative betting selections. They still offer their website only in English, by choice.