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Paddy Power Betfair posts first quarter revenue decline

2nd May 2018 9:11 am GMT

Shares in Paddy Power Betfair fell by more than 6 per cent early Wednesday after the London-listed betting and gaming operator revealed a 2 per cent decline in revenue to £408m for the first quarter of 2018.

Revenue fell across the company’s Online, Retail and Australia businesses, with only the US division recording a year-on-year improvement.

Total sportsbook stakes were down 3 per cent year-on-year to £2.61bn, with sports revenue falling by 2 per cent to £319m [...]

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