Paddy Power has released a financial performance update showing that total net revenues have increased by 23 percent year-on-year.
The Irish firm revealed that amounts staked via its sportsbook operations rose by 20 percent year-on-year assisted by a 28 percent boost in the sums wagered through its paddypower.com online operation.
“Our leading positions in mobile betting are positively impacting online turnover growth and sportsbook gross win percentages,” read a statement from Paddy Power. “We also continued to progress our portfolio of newer online businesses and to invest in exploring other development opportunities to contribute to longer-term growth.”
Revenues from the company’s online sportsbook excluding Australia had improved by 26 percent year-on-year while total earnings went up by 21 percent when compared with the same period in 2011.
“In October, mobile turnover as a percentage of total online sportsbook stakes was 27 percent in Australia and 45 percent in paddypower.com,” continued the official statement.
“The most rapid mobile penetration continues to occur in gaming with a mobile gross win in October accounting for 28 percent of Paddy Power Casino and 25 percent of Paddy Power Games.”