Statement re Job Creation

RNS Number : 2969W

Paddy Power plc

17 November 2010

 

MINISTER FOR ENTERPRISE, TRADE & INNOVATION, BATT O'KEEFFE TD, ANNOUNCES 500 NEW IRISH JOBS.

Huge Jobs Expansion by Paddy Power: 1440 new positions in Ireland, UK and Australia to be created by 2013.

375 new jobs for online operations in Tallaght; 86 positions open today.

The Minister for Enterprise, Trade and Innovation, Batt O'Keeffe TD today (Wednesday 17^th November 2010) announced the creation of 500 new Irish jobs as part of a significant  expansion in employment by Paddy Power plc, the international betting and gaming operator, which will increase its Irish employee base to 2,210 . The majority of the 500 jobs will be located in its international online business which is headquartered in Tallaght, West Dublin. Paddy Power is currently advertising 86 of these new jobs on its website www.workwithpaddy.com  

In addition to the Irish based jobs, Paddy Power is creating 810 new jobs in the UK as it expands its retail network and 130 jobs in Australia, where it is the number one online corporate bookmaker. All of the new jobs will be in place by December 2013. 

Of the 500 new jobs being created in Ireland, 375 will be located in Tallaght, in areas such as e-commerce, technology, quantitative research, online marketing and risk management. Paddy Power's international online turnover has grown by 315% in the last 3 years and the Group's strategy is to exploit additional new opportunities that arise as international markets liberalise.  

A further 125 jobs will be created in the Paddy Power's retail estate in Ireland.

These new jobs are on top of 725 existing   "smart economy"   jobs in Paddy Power's Tallaght Head Office, 80 of which have been created and filled in the past 12 months.

Announcing the new jobs, the Minister for Enterprise Trade and Innovation, Batt O'Keeffe TD described the investment by Paddy Power as a very significant employment boost for west Dublin and for the country:

"Paddy Power is now a major Irish employer and today's announcement will bring the firm's workforce here to more than 2,200. 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. 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.

Patrick Kennedy, Chief Executive of Paddy Power said: "We have very strong home grown expertise which has already opened doors in the UK, Australia and France. Our strategy is to continue to seek opportunities through organic means, joint ventures, strategic partnerships and where the value and fit is right, through acquisitions. We operate in highly competitive markets and it is essential that we remain competitive here out of Ireland in order to continue to expand this business and create more jobs.

"The benefit to the economy of our international expansion extends beyond job creation. Paddy Power pays corporation tax in Ireland on all our internet and telephone profits from the 162 countries where we do business. In 2009 we paid €41 million to the Irish Exchequer, €19 million of which was generated from locating our internet and telephone business in Tallaght. As the business expands in the coming years, this figure will rise significantly. An internet tax, if applied in a manner which does not disadvantage Irish employers, is fully enforceable on all international operators thereby protecting job creation in Ireland,  will add further to the Exchequer coffers."

.    

Ends

For reference:

Patrick Kennedy,

Chief Executive,

Paddy Power plc

Tel [phone]

Jack Massey,

Finance Director,

Paddy Power plc

Tel [phone]

Bernard Mallee

Department of Enterprise, Trade & Innovation

Tel [phone]

Billy Murphy/Ronan O'Keeffe

Drury

Tel [phone]

For information on positions currently available:

www.workwithpaddy.com 

 

END

 

 

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