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Paddy Power Betfair Plc stock price analysis and predictions for 2018
Paddy Power Betfair Plc is an Irish company that specialises in the provision various online and offline betting services. As the name suggests, the key brands for the company are Paddy Power and Betfair. However, the company also operates Sportsbet.com.au, Australia’s largest corporate betting company and also the first online betting company to get a local betting license. Next to this, the company consists of Television Games Network (TGN), a US-based company that operates several TV channels that are focused on the horse betting. TGN also provides one of the most advanced wagering solutions as it allows players to bet online or simply simple via a phone line. Paddy Power Betfair Plc also has a data company in its portfolio - a UK based Timeform. About a year ago, Draft, a fantasy betting company has been added to Paddy Power Betfair portfolio.
As reported by Play-casino-online.co.uk, the guide for new UK casinos, during the year 2017 the company has generated 1.75B GBP in revenues and 391M GBP in net income. Consequently, its operating profit passed a 200M GBP mark and is estimated at 217M GBP.
What is going on with Paddy Power Betfair Plc share price?
While both Paddy Power and Betfair have quite a long history, the companies only merged in September 2015, and this has resulted in a dramatic increase of the share price. From around 7,500 GBX per share the Paddy Power Betfair stock price went to nearly 11,000 GBX within just five months.
However, today we are witnessing almost the same price as we have seen two and half years ago. And, obviously, it raises two questions - 1) Is it a good time to buy Paddy Power Betfair Plc stocks today? 2) Will the price of Paddy Power Betfair Plc go up in 2018? Let’s examine it more details below.
Paddy Power Betfair stock prediction for 2018
The company operates in the regulated markets that have established online and offline gambling policies quite some time ago. Hence, the investors should not expect any surprises regarding the company’s key performance areas. However, there are some factors that could help us predicting the stock price.
As we previously noted, the company operates the largest Australian betting brand. As of late 2016, the GBP/AUD rate has been increasing, meaning that one Australian dollar buys less and less British pounds. Considering that the Australian division of the company generates its income in the domestic currency, this is quite a negative factor for the company’s stock price, as it is quoted in GBX (pences).
Considering that a large share of the company’s business is located in the US, the impact of the US Dollar rate against the British Pound is quite important too. And here we see the same picture, the Pound has been getting more expensive since late 2016.
While the FX rates certainly make an impact, the company performance is more important. It is important to note that recently GAN has announced its partnership with Betfair US for the development of an online casino in New Jersey, which should certainly add-up to the company’s performance.
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