Paddy Power shares decrease 6% as Cheltenham approaches

Shares in bookmaker Paddy Power Betfair fell almost 6% yesterday as brokers focused on the prospects of growth in online gaming across the industry.

The newly merged company reported an 18% increase in revenues for 2016.

Underlying earnings before interest, tax, depreciation, and amortisation climbed 35% to £400m (€462.9m), and it paid a final dividend of 113p a share.