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Good Year for Bookmaker

This is often a celebratory time of year for the online casinos and gambling companies that have seen a successful previous year. Internet gambling companies have all begun to release their year-end and fourth quarter reports for 2007, and for some, like Paddy Power, the year-end results are certainly a time for celebration. Paddy Power is an land and online casino bookmaker that has spent the last year really pushing the company into the internet gambling arena – a move that paid off by the end of the year.

Paddy Power released positive figures for every division within the company – online and offline. According to the Chief Executive at the land and online casinos gambling group, Patrick Kennedy, both pre-tax profits and annual revenues saw a sizable increase in 2007. The company’s online division performed better than anyone could have anticipated – a 36 percent increase in internet gambling based profits.

But that is not to say that the company’s land bookmaking business did not perform equally well. In fact, Kennedy noted that success in both land and online casinos gambling contributed the company’s first year exceeding Euro 2 billion in annual revenue.

Paddy Power has powerful brand recognition in the land and online casinos gambling industry and the company has plans to only continue to open more land betting shops and to continue internet marketing efforts into 2008. Though there is certainly fierce competition within the land and internet betting industries, Paddy Power anticipates that 2008 will continue to year on year company and revenue growth.