Online Casinos Boosting Powerful Profits
Land bookmakers like Paddy Power, Ladbrokes, Will Hill, and others have
established very strong names for themselves outside of their bookmaking shops
through the power of the internet. Paddy Power in particular is a land and
online casino bookmaker based out of Ireland that has managed to not only
harness the power of the itnernet and offer gambling and betting products across
the sea to UK bettors, but is also now generating significant profits from the
international online casino, poker, and betting markets. Paddy Power’s gambling
sites are growing in popularity and the company’s half-year results, published
just this week, indicate that the gambling company was able to generate a very
significant amount of profit from its online efforts.
The half-year ended in June for the company and the published report indicates
that the company’s online revenues are on the rise – a whopping ten percent over
the same time period in 2007. This means that Paddy Power, a company founded in
the land bookmaking industry, generated Euro 63.7 million from the online casino
gambling and betting industries. This increase comes as welcomed news and the
company notes that it online division is now a cornerstone of Paddy Power’s
business, generating 47 percent of the company’s total revenue from online and
offline divisions.
Interestingly though, the report was not all roses and the company is looking
at some looses in various divisions – especially telephone betting. Included in
the more disappointing news is the fact that operating costs have risen over the
last year – and this cuts into profits. With all of that said though, the
negative aspects of the report were not weighty enough to overshadow great news
that online casino and internet betting profits are on the rise. |