Paddy Power profits rise 21% in Q1

PADDY Power is committed to job creation in Ireland, despite the effect of the proposed tax on revenues from online operations potentially putting it at a disadvantage to some of its competitors.

The Irish bookmaker — which yesterday reported that group revenues have risen by 21% since the beginning of 2011 on a year-on-year basis — said it will be a meaningful contributor to the Government’s jobs target.

Since the onset of the economic downturn, Paddy Power has created 480 jobs in Ireland and is set to create another 500 by 2013.