Irish Sports Betting and Gambling Company, Reports Surge in Profits
April 21st, 2008
Paddy Power, the Irish sports betting and gambling company is reporting that they have seen a 52% increase in full year profits. This gala bingo offer is chiefly attributed to growing online gambling business, however they have experienced a string of losses at the land based local betting shops.
Figures released in a statement from Paddy Power, indicates that their net income increased to €62.8 or €1.25 per share, from €41.2 or 81 cents in the financial year end of 2006.
Based on this growth, gambling giant, Paddy Power now intends a huge expansion into the UK and they are planning to open betting shops in London, Glasgow and Manchester.
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