Paddy Power is a leading e-commerce business in the betting and gaming sector with multi-channel complexity - 300+ shops in the UK and Ireland; growing online and mobile channels; and an international dimension with technology-led B2B deals in Europe and a JV in Australia. We are headquartered in Dublin, Ireland and publicly quoted, listed on both the Irish and London Stock Exchanges. Paddy Power takes an unconventional approach to betting and gaming and our mission is to make ‘risk-based entertainment’ more accessible and fun. We offer customers an unparalleled betting experience that is great value, great fun and has the best service. Today the business has approximately 2,500 employees globally, and we delivered revenues of €3.8 billion in turnover and €104m in operating profit in 2010, a 55% increase on 2009.
In the past ten years the business has delivered year-on-year growth in excess of 30%. The main drivers of this have been a sustained focus on product innovation, value for customers and brand differentiation. Through this strategy we have developed a strong reputation as ‘The Punter Friendly Bookmaker’. Today the group conducts business through online, mobile, retail and telephone channels. The main growth engine for the business is the online division – paddypower.com – through which sportsbook, casino, games, poker, bingo and financial spread betting are delivered as digital experiences. In 2010 almost 75% of total profits were delivered via online, a 52% increase on 2009, with in excess of 800,000 active customers. More pronounced has been the recent growth in mobile with 300% growth in the amount of bets placed via smart phones in 2010 and 31% of all online customers now transacting with the business through mobile. Together these facts place Paddy Power firmly in the top three companies in the UK online betting and gaming market. Strong structural fundamentals – broadband penetration, smart phone usage, increases in online commerce – are driving and will continue to drive participation in the online division for Paddy Power as betting and gaming becomes a largely digital business.
In summary, Paddy Power is one of the fastest growing, most ambitious and most profitable businesses in the betting and gaming sector. The continued enhancement of the organisation, products and brand is creating the traction for aggressive expansion. Key objectives in the medium term include further international expansion; increased retail presence in the UK; more B2B relationships; the launch of industry defining products and services in online and mobile; and increasing brand penetration and customer growth.
