Paddy Powers To New High

Tagged under: Special

Paddy Power is one of Ireland's big success stories of the last decade .Shares in the leading Irish bookmaker reached a new high in London last week after the firm released a trading statement confirming it had bought a Bulgarian games developer and said strong growth in the first half of 2011 had continued in the period to mid-November .

Paddy Power are renowned for their moneyback specials which are offered across all sports every day but are particularly aimed at the major sporting events such as Cheltenham and Premier League and Champions League football . Paddy Power offer all new online betting customers up to £100 in free bets and have great customer service . 

Because of the variety and volume of the moneyback offers Paddy Power are able to retain their online betting customers for longer than most of their bookmaker rivals and consequently generate significant customer loyalty to the Paddy Power brand . 

Paddy Power also operate betting shops in the UK and Ireland In 2007, at the height of the boom, Paddy Power’s chain of Irish bookmaking shops made an operating profit of €35 million. In the first half of this year it made only €5 million.The company operates 161 shops in the UK , still concentrated around London compared with 210 betting shops in Ireland and the UK shops should generate more profit than the Irish chain for the first time in 2012 .

Chief Executive Patrick Kennedy says that the Irish shops have been decimated by the recession -"It’s one of the few sectors where people can pick their price point. The shops at an activity level have never been busier but the average stake per bet continues to decline and that’s the challenge.”

Shares in Paddy Power reached an all time high of over 43 euros in Thursday's trading before slipping back slightly yesterday.

Paddy Power is an unusual company , loved by investors , analysts and punters alike but of course hated by other bookmakers who struggle to compete with it's phenomenal marketing skills .

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