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Irish bookmaker Paddy Power is forecasting 2010 to be a "good year," fueled by an expanded Internet business and growth in Australia.
CEO Patrick Kennedy says that earnings from online gambling could rise to more than 80 percent of profit “in the not too distant future.”
From Bloomberg:
Quote:
“I think 2010 will be a good year for Paddy Power,” said Kennedy, 40, who joined the company in 2005. When “I look at 2010 and beyond I think we will continue to grow our share in all of our markets.”
Yeah, Patrick Kennedy was pretty upbeat when we reported the company's financial results, too - despite profit being down more than a quarter!
http://www.egrmagazine.com/news/indu...-down-26.thtml :lalala:
In fairness, a lot of sportsbooks were hit fairly hard by results in England's big National Hunt races this year.
With 2010 being a World Cup year then it should really be a good year for all the bookies.
80% increase is very optimistic.
Just FYI on the subject of PP: http://www.egrmagazine.com/news/indu...ear-deal.thtml
That's right. I think 80% percent is too big enough. But who knows, anything could be possible if only by next year online gambling legality are being implemented.Quote:
Originally Posted by Doolally
2010 will be the starting point. I am sure 2011 will have emerging countries playing as well and not just the big countries, plus - what If the the U.S market is regulated ? Then another 20 billion dollars will swipe hands.
Wish you all the best!
Yuval
www.casinos2check.com
good year for them and good year for us !!!