The newly welded-together betting behemoth Paddy Power Betfair demonstrated its fiscal clout in its first joint earnings report since the companies officially joined forces last month.

According to figures released on Tuesday, Paddy Power’s preliminary FY15 results showed revenue improving 24% to €1.094b – the first time the company has topped the €1b mark – while operating profit gained 10% to €180m.

Paddy’s profit would have risen 50% but for €66m in new taxes and product fees, including the UK’s new 15% online point of consumption tax and the increased land-based Machine Games Duty (MGD).

Total online gambling revenue was up 23%, led by a 28% rise in sportsbook and a 10% rise in online gaming, which helped push online operating profit up 11% to €152m. Mobile channels accounted for 68% of all online revenue, as 80% of active customers made at least one mobile transaction.