Business

Paddy Power grows rapidly outside Irish Republic

Paddy Power
Image caption Paddy Power announced 1,440 new jobs - 500 of them in the Irish Republic

Irish bookmaker Paddy Power has reported double-digit growth outside its home market, while promising more jobs at its Dublin headquarters.

The gambling chain said it saw net revenues in the last three months up 17% in the UK and 70% in Australia.

But in the Irish Republic they were up only 9%, due to an 8% drop in gambling.

Meanwhile the firm is to create 500 new jobs in the Republic, news that was announced by the Irish Business Minister, Batt O'Keeffe.

"Paddy Power is now a major Irish employer and today's announcement will bring the firm's workforce here to more than 2,200," said the Irish minister in a statement issued by Paddy Power.

"Paddy Power's rapid international expansion has direct revenue benefits for the Irish Exchequer."

Most of the new jobs will be at its international online business, which has its headquarters in Tallaght, West Dublin.

The company said it would create a further 640 jobs in the UK and Australia by 2013.

In its interim financial statement, Paddy Power said that the economic conditions in the Republic - which accounts for a third of its group operating profits - had "become more challenging during the period".

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