When releasing their first full year report since the merger of Betfair and Paddy Power, the company released a growth of 12 % revenue to a total £1.745 billion (US$2.42 billion), much thanks to increased sportsbook revenue. The growth rate was a bit smaller compared to previous years.
With tought competition and new regulatory frameworks being some of the reason to the decreased growth, the company are now looking into the future with great hopes. In the report the company revealed the addition of £20 million ($27.7 million) to its £300 million ($416.2 million) annual marketing budget. This will mostly be spent on adversiting.
How Paddy Power is growing
The company is listed on the London Stock exchange and operates under a number of brands, with Betfair and Paddy Power being the most well-known for UK gamblers. The merger between the two companies happened in February 2016. The company operates both online and in retail, through betting shops.
Among other ventures, the company has gone into fantasy sports through the aquisition of the company draft during 2017. Also other popular new products such as e-sports and VR Casino are among the popular new products for Paddy Power Betfair. Stay updated here with the latest news from the iGaming world.