Mobile stakes were up by 298% over the first part of 2011 with the amount of customers conducting transactions through mobile devices up 34%. Must have been that huge shipment of lucky heather they got in over the winter months!
Prior to the company’s AGM later today, chairman Nigel Northridge said, “2010 was a record year for Paddy Power with increased profit in all divisions. Significant investment to build scale saw us agree to buy out the minority shareholders in Sportsbet in Australia, establish a market leading position in mobile internet betting and expand our UK retail estate to drive an almost six-fold increase in its profitability.”
Australia was the only part of the company that slightly underperformed as growth was slightly slower than 2010. It still saw growth and that’s nothing to be scoffed at.
“I believe that we’re paying a full price for the business. I think taxpayers have got a wonderful deal for themselves,” Done said.
“For 200 million pounds, I think that Lazard has squeezed the pips. Racing has got a great deal out of it.”