BUSINESS

Paddy Power profits slump 15%

TAGs: 2009 full-year results, Paddy Power

Power cut

Power cut

Paddy Power has seen its profits plummet a whopping 15% for 2009 after full year resuts were revealed today. The Irish bookmaker reported pre-tax profits of €67.2 million for the year ending December 2009, compared to €79m reported in 2008. The Dublin-based operator referred to an ‘exceptionally punter-friendly’ run of sporting results compared to 2008 and insisted 2010 was already off to a promising start despite the cancellation of numerous horseracing meetings due to the Big Freeze and despite having already been caught copying odds and betting ideas from other bookmakers on more than one occasion this year. Read more.

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