Since the merger of Paddy Power and Betfair the company has gone from strength to strength and this year they are reporting excellent second quarter sales, something the company is attributing to the FIFA World Cup and success in the US market.
Paddy Power Betfair reported an increase on second-quarter sales by 13% according to an announcement by the operator this week. Review is up 9% year-on-year in the pre-World Cup period and increased by around 20% in Australia and the US, showing the brand’s growth overseas. These revenue increases provided some welcome news after the company reported poor growth in the first quarter of 2018.
Paddy Power Betfair is putting the success down to recent partnerships and expansion thanks to changes in legislation. The brand has just expanded into New Jersey and further changes in legislation will mean new states for Paddy Power Betfair to move into. This week we hear the news that Illinois is to open up the market to online gambling, and this could be another boost for brands such as Paddy Power Betfair.
Recent partnerships with brands such as Boyd Gaming have also worked in the brand’s favour, helping to increase revenue and give the company a profit boost.
Plus, like other brands on the market right now, the World Cup was a showcase event, giving the company the chance to rise to the challenge of one of the busiest periods of the last four years. Paddy Power Betfair ran several successful campaigns during the World Cup, making the very most of social media conversations around the tournament and this has worked in the brand’s favour also attributing to the excellent second-quarter success of 2018.
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