Taking on Paddy Power Betfair’s Q1 investor conference call, Group Chief Executive Peter Jackson has stated that the FTSE100 betting group has made substantial progress on its key initiatives, despite closing a disappointing trading period.
With PPB development teams delivering the firm’s combined technology platform this January, Jackson details significant progress on his initial leadership goal of ‘returning Paddy Power to growth’.
With new operating systems in place, Jackson outlines a number of product upgrades for the Paddy Power brand, which include higher combined jackpots, an expanded live casino inventory and an updated cash-out functionality for its sportsbook product.
“These upgrades, highlight the importance of our technology resources, which are now being redirected to create customer-facing products following two years of backend work”.
Completing his first quarter as PPB leader, Jackson acknowledges the ongoing market disruption in which industry stakeholders operate.
Jackson’s new executive team believes that market disruptions, which force competitor readjustments, offer PPB the best opportunities for growth outside of the UK and Ireland.
“In Australia, we see an opportunity to compete more aggressively, and take advantage of the disruption of market competitors, as they consolidate their operations. We are therefore increasing our investment in Sportsbet operational capacity and marketing activities”.
Tasked with expanding PPB assets internationally, Jackson labels Sportsbet Australia as a ‘great business asset’, which needs to be pushed hard in order to cement its marketing leading position, whilst main market rivals and Tabcorp and CrownBet begin their integration processes.