Paddy Power to create 500 jobs

Bookmaker Paddy Power is to create 500 jobs at its Irish operations, it was announced today.

Some 375 of the positions will be in the company's international online business, located in Tallaght, in e-commerce, technology, quantitative research, online marketing and risk management.

Once the new positions have been filled, Paddy Power will employ a total of 2,120 people here.

Minister for Enterprise Trade and Innovation, Batt O'Keeffe TD described the investment a significant employment boost for west Dublin and for the country.

"The new high-end jobs align well with the Government's policy focus on driving new levels of innovation and skills across the labour force so that we can achieve sustainable employment growth as our economy recovers," he said.

"Paddy Power's rapid international expansion has direct revenue benefits for the Irish Exchequer and, as overseas markets deregulate, growth prospects are strong for the firm's online business. The Government's overriding priority is the protection and creation of jobs and we will continue to shape a pro-business policy environment that allows innovative firms, such as Paddy Power, to grow and generate jobs."

The jobs are part of a company-wide expansion. Paddy Power is also recruiting in the UK, where it is adding 810 jobs, and a further 130 positions in Australia.

The new jobs will be filled by December 2013.

Paddy Power also announced interim results for the period between July 1st and November 15th 2010. The group's retail, online and telephone channels serving Irish customers performed broadly in line with expectations, it said. However, the group noted Irish economic conditions have become more challenging.

Paddy Power said it expects to grow underlying diluted earnings per share by 35 per cent to 40 per cent in 2010.