LONDON (dpa-AFX) - Sports betting and gaming operator Paddy Power Betfair (PAP.L) Thursday reported 17 percent growth in its revenue for the first quarter, driven by strong growth in both Australia and the U.S., and said its full-year profit outlook remains in line with its expectations.
Total revenue for the first quarter grew 17 percent to 478 million pounds. In the quarter, Sports revenue rose 15 percent to 366 million pound, while Gaming revenue increased 26 percent to 113 million pounds.
Peter Jackson, Chief Executive, said, ' Trading in April has been in line with our expectations. In the US, FanDuel remains well positioned to generate good returns on ongoing sports betting investment and for rest of the Group we remain on track to meet our full year profit expectations despite the adverse sports results in Q1.'
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