Online gambling firm Paddy Power is planning expansion in Australia.
The chief executive of Paddy Power has suggested that 2010 will be a positive year for the online gambling industry.Patrick Kennedy told Bloomberg that he expects to see growth in several gaming markets next year, with his company poised to take advantage of the situation as it strengthens its profile overseas.
Paddy Power purchased a stake in an Australian sport betting firm in July and the Dublin-based operator plans to expand its presence down under over the next few years.
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"I think 2010 will be a good year," Mr Kennedy told the news provider.
"When I look at 2010 and beyond I think we will continue to grow our share in all of our markets."
Although he declined to give a forecast for 2010, Mr Kennedy said that its online gambling earnings could increase to more than 80 per cent of profit "in the not too distant future".
In terms of its land-based business, Paddy Power now has 87 sport betting outlets in the UK, having opened 19 new branches this year.
The firm reported turnover in excess of €2 billion (£1.8 billion) in 2007, representing a 13 per cent increase on the previous year.
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