The boss of paddy Power Betfair: advertising ban ‘not correct answer’

  • The boss of paddy Power Betfair: advertising ban ‘not correct answer’
    Independent.t. E.
    Chief Executive paddy power bets at Betfair, said that the recent call of the President to gambling advertising should be banned in sport are not necessarily correct.
    https://www.independent.ie/business/irish/paddy-power-betfair-boss-ad-ban-is-not-right-answer-37197591.html
    https://www.independent.ie/world-news/article37197790.ece/7c28a/AUTOCROP/h342/ipanews_259f86c1-f279-4dbf-bd69-eb37471d3143_1

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Chief Executive paddy power bets at Betfair, said that the recent call of the President to gambling advertising should be banned in sport are not necessarily correct.

“If I had my way, I would have no advertising or any access to a gaming platform in the sport,” said President Michael d Higgins last month.

The betting giant says it will comply with all laws in place, but boss Peter Jackson said: “We are very good supports responsible gambling in Ireland.

“We would like to see some progress in the [gambling] bill. We will work within the framework that’s put in place – that countries and politicians decide”.

Bill gambling Management is still being developed by the Ministry of justice, while proposals were laid in 2013. The bill will offer a new and comprehensive framework for the regulation and licensing of gambling in Ireland. The new regulatory body will be established in accordance with the plans.

Last month, Italy approved a ban on gambling advertising, which comes into force next year.

“Some countries have decided to put in place very strict laws,” said Mr. Jackson.

“We just saw that in Italy, where the is is actually will be banned. I’m not sure that necessarily is the right answer,” he added.

Mr. Jackson said that paddy power, Betfair published its results of the first half.

The World Cup helped to lift profit for the period, but its shares fell as much as 7.1 PC, as it is predicted that the underlying income for the full year will be hit by additional taxes in Australia and the inclusion of losses from newly acquired American FanDuel sports business.

First half revenue increased by 7pc in constant currency to $ 867 million (€962.8 million), and profit before tax amounted to 4pc higher at £106 million (€117.7 m).

The group, which has focused on strengthening its brand paddy power, said that the world Cup was £23 million (€25.5 m) of the total volume in the first half of the sales.

But the total revenue of the group from the world Cup, which ended after the second quarter paddy power for the Betfair finished, it was 45 million pounds.

Tournament created 8 million pounds (€8.8 m) profit for the gambling group.

Paddy power on Betfair expects full-year underlying profit before interest, tax, depreciation and amortization, without regard to their sports betting to be between £460m and 480m £(€510.8 million and €533m).

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