Mayweather helps Paddy Power Betfair in third quarter

Mayweather helps Paddy Power Betfair revenue in third quarter

Mayweather helps Paddy Power Betfair in third quarter

Mayweather helps Paddy Power Betfair in third quarter

Multilotto Invitation Code Banner 160 The CATPaddy Power Betfair has reported rising third quarter sales and earnings as the group was helped by punters betting big on the Mayweather-McGregor fight.

The bookmaker reported a 9% increase in revenue to £440 million in the three months to September 30, while underlying earnings ticked up 7% to £121 million.

Paddy Power Betfair said that the Mayweather-McGregor contest helped it mitigate the absence of a major football tournament in the same period last year.

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The company said that a marketing drive that involved Floyd Mayweather, who eventually went on to win the dual, wearing Paddy Power’s “Lucky-Pants” drove “high levels of customer engagement”, according to The Courier.

The group saw an 18% increase in sales in the US to £28 million.

However, online revenue fell 3% to £216 million in the period against tough comparatives that included a strong contribution from the latter stages of the Euro 2016 tournament.

Last year bookmakers across the board were boosted by the European Championships, in particular by England’s embarrassing exit at the hands of minnows Iceland.

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