Paddy Power Primed For U.S. Move

Irish bookmaker and online betting company Paddy Power is ready to take advantage of forthcoming regulation in the U.S. online poker market according to chief executive Patrick Kennedy.

Speaking at the company’s annual general meeting Kennedy said, "What we’re showing potential partners is deep e-commerce expertise that other global companies don’t have.

“We know how to run, better than anyone, I would argue, an e-commerce business So there are different parts to the value chain."

He admitted the company, which runs PaddyPowerPoker.com and is active in the live poker tournament business, did not have the bespoke technology platforms of bwin.party or 888 but pointed out that the company did have an untarnised reputation never having taken bets from U.S. punters.

The company has applied for a licence to operate in Nevada and is in continuing discussions with potential partners there according to Kennedy.

The company saw its first quarter 2012 results soar with total net revenue was 28 percent up year-on-year. At the end of 2011 profit before tax was up 16 percent to £121.3 million.

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