Irish Bookmaker Paddy Power is expanding fast and its last 6 month results showed turnover up 27 percent to Euro 878 million with growth across all channels. Operating profit was up 11 percent to Euro19.6 million and profit before tax was up 12 percent to Euro 20.5 million.
Business leader Dermot Desmond who invested in Paddy Power, Betdaq, London City Airport and Glasgow Celtic Football Club in now interested in buying a 10 percent stake in the Isle of Man e-cash processor Neteller.
Whether Desmond has bought into Neteller for a short-term gain or for a longer term interest, it is still “good news” for the sector, according to analysts. A spokesperson for the Dublin-based betting exchange Betdaq refused to comment on the story.
2 USER COMMENTED IN THIS POST
My concern would be how this would affect offshore betting, from a US perspective. As a US citizen, I bet at ehorseX.com
Will NETeller still do business with me?
Hi Toby, of course you can still using neteller until the gambling law is implemented.
Leave A Reply