Improved annual results for Paddy Power Betfair

Online and retail sportsbetting and gaming operator Paddy Power Betfair released its preliminary financial results for 2017 yesterday showing that it experienced a 13% increase year-on-year in net revenues to £1.74 billion ($2.41 billion) thanks in large part to a 16% rise in annual sports takings.

Dublin-headquartered Paddy Power Betfair explained that its annual earnings before interest, tax, depreciation and amortization reached £473 million ($655.85 million), which represented an improvement of 18% year-on-year, to leave it with an operating profit that was 19% better off than in 2016 at �…