Dublin-based operator Paddy Power is planning a significant increase in expenditure on television advertising, with the 2014 spend set to be twice that of 2013, reports ft.com.
In 2013, Paddy Power’s share of the television advertising market fell from 15 per cent to 10 per cent. Commenting on the plans to spend more, chief executive Patrick Kennedy confirmed: “We are increasing our share pretty substantially,” but wouldn’t reveal any details.
The UK’s point-of-consumption tax will come into effect in December and it is widely expected to impact revenues and make it harder to increase market share directly by raising advertising spend.
The news comes in the same week that speculation began to grow that gambling advertisements on television may face further restrictions.
UK culture secretary Maria Miller has asked the Advertising Standards Authority to consider whether the number of gambling advertisements on television currently is "appropriate."
