Paddy Power, an online sportbook in Ireland is growing well beyond their domestic borders. Internationally, they’ve seen two-digit growth. Over the past three months, 70% of Paddy Power’s new traffic has come from Australia. Another 17% increase has come from the United Kingdom.
During the same time, revenue within the Irish Republic only increased 9%, despite (or perhaps because of) an 8% decline in internet gambling in Ireland.
This growth has prompted a commitment from Paddy Power to increase job creation back in their Dublin headquarters. Batt O’Keeffe, Irish Business Minister, announced the gambling operator will be creating 500 new jobs. Most of these new jobs will focus on Paddy Power’s international internet business, which is headquartered in Tallaght, West Dublin.
As O’Keeffe stated, “Paddy Power is now a major Irish employer and today’s announcement will bring the firm’s workforce here to more than 2,200.”
The minister went on to assert “Paddy Power’s rapid international expansion has direct revenue benefits for the Irish Exchequer”.
By 2013, Paddy Power is already planning to create 640 more jobs situated in both the United Kingdom and Australia. It is too soon to tell whether or how Australia’s online gambling filter, mandatory in 2013, will effect Paddy Power financially or their plans for job creation.