Online Casino Makes a Powerful Start to 2007

Paddy Power, the largest bookmaker and online gambling provider in Ireland, has announced a 53 percent surge in its first half operating profit hitting €14.8 million.

The total amount wagered at the firm's online sportsbook increased by 19 percent to €279 million during the first half of 2007, with the average bet value increasing by 3 percent to €28.36. The company's online gaming division also increased its net revenues by 42 percent to reach €18.4 million, which gives customers access to fixed odds sportsbetting, poker, casino, bingo and skills gaming services.

The impressive figures only represent a small fraction of the potential growth and revenues Paddy Power's are set to climb, thanks to the company's investments in its German and Spanish language sites, the ongoing product development including financial spread betting facilities to its gaming portfolio and adding online bingo.

CEO Patrick Kennedy said: 'Strong trading has continued into the second half of the year, and we look forward to the remainder of 2007 and beyond with confidence.'