Paddy Power-Betfair’s expansion into the US sports betting market may add as much as €240m to its annual group earnings by 2023, according to Davy.

Paddy Power-Betfair shares edged higher after the betting and gaming group marginally improved its full-year earnings guidance on the back of a good third quarter performance.

Paddy Power-Betfair shares rose by over 5% despite it being effectively fined £2.2m (€2.5m) by the UK’s gambling watchdog for failing to guard against money laundering activity.

It has been revealed the bosses of Ireland's top 20 companies earn, on average, 33 times more than their employees.

Any meaningful recovery in Paddy Power-Betfair’s share price is going to take time, analysts have warned, after shares in the betting services group fell further on a 12% slump in first-quarter profit.

Paddy Power-Betfair shares fell by nearly 4% as investors reacted badly to news of the departure of the head of its key Australian division.

The US is being viewed as the next area of consolidation for European betting companies, with markets anticipating gambling legalisation to sweep the country over the next few years.

Paddy Power-Betfair shares fell by over 2%, before recovering, on analyst concerns that an expected surge in online revenue may not materialise and that competitors may outpace its growth.

Shares in Paddy Power-Betfair jumped by over 3% on the back of reports linking the Dublin-based betting and gaming services group with Australian online betting firm CrownBet, writes Geoff Percival.

A number of Irish stocks felt the benefit as global markets rallied yesterday and investors weighed back in on the back of easing tensions between the US and North Korea.

Paddy Power-Betfair is looking to grow further in the US, via acquisition, depending on how much the largely unregulated market further opens up and the level of opportunity that presents itself.

Paddy Power-Betfair chairman Gary McGann yesterday defended the betting services group’s remuneration policy as “fair, transparent, and balanced” despite nearly a third of investors voting against it at the group’s first AGM as a merged entity.

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.

Each quarter, every quoted US company provides results and updated guidance which is honed in on by analysts and investors to provide a gauge as to how the company is performing and how the outlook for the remainder of the year compares with the prior view.

The London market edged back into positive territory as a rise in the price of oil eased the pressure on top-flight stocks.

Paddy Power-Betfair has no immediate plans to replace outgoing chief operating officer Andy McCue — whose departure was announced yesterday — with his role set to be subsumed by chief executive Breon Corcoran for the foreseeable future.

Paddy Power shareholders are in line for a fresh €80m windfall, via a special dividend payout, if the leading Irish betting services firm succeeds in its planned merger with UK-based online rival, Betfair.