Paddy Power-Betfair boss Peter Jackson has said the company is “very keen” on making further acquisitions in Australia, where it already leads the online betting market through its Sportsbet subsidiary.

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.