Paddy Power beats drag with mobiles lift
Nov 16, 2012 (London Evening Standard - McClatchy-Tribune Information Services via COMTEX) --
Betting on mobile phones is taking off and Paddy Power is cashing in.
The Irish bookmaker with the in-your-face marketing says it had a strong third quarter despite a slowdown during the Olympics and poor weather that saw some horse racing cancellations.
On the high street, revenue was up 5 percent; it plans to open another 45 shops across the UK by the end of the year. But the real growth is occurring on mobile phones. Mobile accounts for 28 percent of casino business and 25 percent of games revenue. Revenues from gaming machines declined 4 percent, something that may please anti-gambling campaigners. The machines should be banned, say some politicians.
The company won a battle with the London 2012 Olympic organisers over an advertising campaign they wanted to ban. Its ad proclaimed it was the "Official sponsor of the largest athletics event in London this year!" This turned out to be the sponsorship of an egg and spoon race held in the town of London in France.
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