Cheltenham eats into Paddy Power-Betfair cheer

Shares in newly merged betting services firm Paddy Power-Betfair fell by nearly 4% yesterday, before recovering slightly, after the group said first-quarter revenues were affected by adverse sports results, including a €20m hit from the Cheltenham festival in March.

Cheltenham eats into Paddy Power-Betfair cheer

Leading bookmakers across Ireland and Britain lost a combined €76m at Cheltenham this year.

Ladbrokes said last month the festival had been the worst in living memory and had taken the shine off an encouraging quarter.

Already a subscriber? Sign in

You have reached your article limit.

Unlimited access. Half the price.

Annual €120 €60

Best value

Monthly €10€5 / month

More in this section

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited