Online income up by almost a third for Paddy Power

Gambling shop chain Paddy Power said today its gross online winnings were up by 32% in the year to date.

In an interim management statement issued ahead of the company’s annual general meeting today, the Irish bookmaker said that online had been a highlight for the company in the year from January 1 2010 to May 16 2010.

It said sporting bets placed through its online channel had grown by 19% in value and 39% in volume, while online gaming had also risen strongly.

There was a 32% rise in gaming gross win driven by games, casino and bingo, all areas where there had been extra direct investment in products, people and promotion.

Elsewhere, the company, whose international presence now also includes Australia and France, said there was good bet volume growth across all channels. It opened nine new shops in the UK during the period, and said it was confident about the future, thanks to “strong momentum in the business, significant ongoing investment to enhance our competitive position, and the upcoming World Cup.”