Paddy Power chief executive Patrick Kennedy, received a 1.5 per cent increase in pay, pension and benefits last year to €1.422 million from €1.393 million in 2008, the company’s annual report shows.

His colleague, Breon Corcoran, got a near 1 per cent increase to €827,000 from €819,00. Jack Massey earned a similar increase to €555,000. The remuneration committee decided to adopt a long-term bonus plan for Mr Corcoran.

Under this, he will be entitled to earn cash payments of between €250,000 and €1.5 million if the businesses meet targets.