Dublin-based Paddy Power describes itself as taking an unconventional approach to betting and gaming. The company was founded in 1988 following the merger of three high street bookmakers in Ireland and Paddy Power is now the largest provider of online gaming services in the country and a leading provider in the UK. After the Irish Justice Minister announced that new gambling laws allowing licensed casinos were likely to be introduced, Paddy Power confirmed it would consider expanding into casino operations.

The path to licensed casinos in Ireland remains a long one, whatever the intentions of the Justice Minister. So far the suggested cross-party committee to examine the question is just that, a suggestion, although discussions are ongoing; a report commissioned by the government remains unpublished; and a future public consultation process has been promised. Paddy Power and other prospective casino operators will wait to see the final nature of any new gambling laws before making a decision.

Last year Paddy Power operating profit rose 59% to €72.1 million from €45.5 million in 2006. At the end of last month the company announced it had expanded into the Northern Irish retail sector with the acquisition of a leading independent bookmaker in the Greater Belfast area, McGranaghan Racing. This chain of eight licensed betting offices (LBO’s) has been added to Paddy Power’s existing estate of 183 LBO’s in the Republic of Ireland and 58 in London. The company says that if the opportunity arises and new gambling laws are ‘sensible’, casino operation in Ireland would seem to be a logical step forward for Paddy Power.
(E-06.24.08)

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