PaddyPowerPoker Grows Players and Profitability

PaddyPower Plc, the publicly-quoted Irish bookmaker which owns PaddyPowerPoker.com today announced its preliminary results for 2008. While the company does not break down the financials for poker within its profit and loss account it said it was happy that revenue level had been maintained when currency fluctuations had been stripped out while active player numbers had grown and profitability had increased.

In a statement accompanying the results, the company said, “Poker businesses generally had a challenging 2008 as a result of continued disruption to the industry landscape since the U.S. outlawed online gambling by U.S. residents in late 2006 (albeit this had no direct effect on Paddy Power) and a 7 percent depreciation in its U.S. dollar playing currency relative to the euro. In this context, we were pleased to be part of the large and growing iPoker network and to maintain our revenue in constant currency terms and grow our active
customers and profitability.

“Operationally, we enhanced our player rewards programme and launched a ‘No Download, Instant Play’ option, ideal for that much needed break at work when the boss isn’t looking.”

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