Paddy Power results in the Irish casino news

Cheltenham may be over for another year and we are sure that in the Irish casino news we shall hear about how difficult it was for the bookmakers (but they will nevertheless have made money); only a few days ago in the Irish casino news our favourite Irish casino operator Paddy Power announced results for 2011 which showed increases in both turnover and profits compared to the previous year. Paddy Power has also been in the Irish casino news for confirming the intention to enter the Italian market for online gambling which according to Patrick Kennedy the Chief Executive they have already been working on for well over a year and already have people in place to start operations both in Italy and Ireland. According to the Irish casino news, the Italian market for online casinos is not only large but is described as being immature and growing making it an ideal target for growth. According to sources in the Irish casino news, the operation will start with online sports betting and expand later to include online casino and online poker. Estimates of the cost of setting up such an operation in Italy are thought to be in the region of €6 million in this financial year but reports in the Irish casino news suggest that the brand already has a certain following. The online business continues to play an increasingly important role with online casinos being an important part of that as witnessed in the results reported in the Irish casino news where although total revenues rose by nearly 17%, online business revenues rose by nearly 24% with very similar figures being reported for profits. Irish casino news also reported earlier on the application from Paddy Power for an internet gaming license in Nevada and this is believed to be progressing but is not expected to be finalised any time soon.