Power beats licensing odds

BOOKMAKERS Paddy Power are skipping over British regulatory hurdles, beating the odds to secure four new betting shop licences in North London.

The company is also in the process of securing a fifth licence in the area and the successes have prompted Goodbody Stockbrokers to re-iterate their buy recommendation on the stock.

“We still believe Paddy Power represents good value at these levels, given its growth profile, and we re-iterate our buy recommendation and 6 price target,” analyst Peter Horgan said yesterday.