PaddyPower Betfair’s revenue grows by 18% in first half of 2016
PaddyPower Betfair’s profit before tax (EBITDA) for the first 6 months of 2016 amounted to around 240 million dollars (181 million pounds) – an increase of 31% compared to the same period last year with a revenue growth of 18%, according to SBC News.
Bookmaker PaddyPower Betfair have achieved double-digit growth in all four of the main categories. For example, the revenues of the British giant from digital sales increased by 20%. A big part of this was down to the role they played in the European Championships. The retail segment of the business grew by 12%, whilst there was a 36% increase in the share price for the combined company.
The Executive Director of PaddyPower Betfair, Breon Corcoran, said the company has “sustained good momentum through a period of considerable change” and stated that these figures exceeded his expectations.
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