Paddy Power is Ireland's largest and the UK's fastest growing sports book and is duel listed on both countries stock exchanges. paddypowerpoker.com was launched at the beginning of 2005 and has quickly established itself as one of the most popular online poker rooms offering innovative tournaments and generous sign up bonuses. Now some information on "Paddy Power":
Paddy Power is Ireland's biggest and most successful bookmaker. It conducts business through a chain of licensed betting offices along with operating Ireland's largest telephone (Paddy Power Dial-a-Bet), online (paddypower.com), casino (paddypowercasino.com) and poker (paddypowerpoker.com). The company also markets its services in the UK and is a publicly quoted company, listed on both the Irish and London Stock Exchanges (www.paddypower.com).
PaddyPower, founded in 1988 by the merger of three existing Irish high street bookmakers, takes an unconventional approach to betting and gaming believing them to be firmly rooted in the leisure and entertainment space.
As such its mission is to make 'risk-based entertainment' more accessible and fun. It offers customers an unparalleled betting experience that is great value, great fun and has the best service.
Through this strategy the company has developed a strong reputation as "The Punter Friendly Bookmaker" and has become renowned for its unique "Money Back Specials".
Thanks to this customer-centric approach, it is now generally accepted that a bet with Paddy Power has three possible outcomes - Win, Lose or Money Back.
While the company specialises in small stakes, fixed odds sports betting, it also offers odds on a number of non-sporting and novelty markets, such as election betting and the outcome of popular TV events.
It has pioneered a number of new products such as 'Lucky Numbers' (betting on which numbers will appear in the UK and Irish Lottery draws) and 'betting in running (live betting on sporting events while they are taking place).
At the end of 2005, turnover was €1,371.7 million, up 18.3% on 2004. Operating profit fell 3.2%% to €30.1 million in the same year.
At the end of 2005 Paddy Power operated 195 outlets (150 in Ireland and 45 in the UK). The total number of employees was 1,374. Market capitalisation at 1 June 2006 was €728.9m.
Financial highlights included:
Turnover up 31% to almost Euro1.8 billion with growth across all channels.
Gross win up 36% to Euro219m boosted by 64% increase in win from online gaming and FOBTs.
Operating profit up 51% to Euro45.5m and profit before tax up 52% to Euro47.6m, both before inclusion of a once off property gain.
Total dividend for the year up 56% reflecting proposed increase in dividend payout ratio to 40%.
Share buyback programme planned for this year, whilst maintaining flexibility for substantial growth opportunities.