Betting and gaming operator Paddy Power Betfair has raised its earnings guidance for the full year after posting a 25 per cent increase in net revenue to £404m for the third quarter of 2016, of which 96 per cent was generated from regulated markets.

The London-listed operator said that trading in Q3 had benefited from favourable sporting results in the second half of the quarter, mitigating poor horseracing margins in July and early August.

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