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32red Casino Bad Earnings Outlook
11/2/09 - Investors in the Gibraltar-based online gambling group 32Red are in for a disappointment when the full year results are released, according to a profit warning from the group contained in a trading update this week.
The statement blames the impact of the global economic meltdown earlier this (2009) year on its high roller action, together with an inability to build player yields sufficiently to beat the trend. The company also flagged an extraordinarily high proportion of wins by the players in October 2009.
A 32Red spokesman warned that full year profit numbers were likely to be “...significantly below market expectations.”
Ironically, the poor full year results come in a quarter where the group posted its highest yet revenues, which rose by 11 percent - mainly at the casino operations - on the same quarter in 2008. During the quarter the number of active players rose 16 percent, but this was not enough to tip the balance into positive territory.
Taking a positive stance, the statement remained optimistic, saying that there was still plenty of player action and that Management had no plans to reduce its marketing initiatives merely for immediate gain.
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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