The chairman of bookmaker Paddy Power has told shareholders that the group's turnover in the first 19 weeks of this year is running 25% ahead of the same period last year.
Fintan Drury said turnover in betting shops was up 19%, while in telephone betting the rise was 18%. Online turnover was 44% higher, excluding gaming revenues, which were 27% ahead, helped by the addition of poker games.
Mr Drury said gross win percentages were in line with expectations, while costs had risen by a third, because of new outlets and expansion of the online business.
He said Paddy Power had opened four new outlets in the UK, bringing the total to 49. It has targeted 15 new UK outlets for the full year. Mr Drury concluded that results for the year were expected to be in line with market expectations.
Shares in the company closed ten cent lower at €14.30 in Dublin this evening.
