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Online sportsbetting group Betbull Holding SE reported on its full year 2008 performance this week, delivering a 21.1 percent increase in NGR to Euro 16.094 million, but a loss for the twelve months of Euro 4.3 million. The dip is the firm's fifth consecutive deficit, and was explained in part as a Euro 1.9 million write-off incurred when it closed the Betpoint SL subsidiary in Andalusia, Spain.
Wagering rose 28.5 percent year-on-year to Euro 100.4 million from Euro 78.1 million, and the company advised that it had increased its annual cash position by 7 percent at December 31, 2008, to Euro 8.2 million.
”Betbull has again achieved handsome growth amid difficult trading conditions in the core German market, increasing turnover to over Euro100 million as compared to Euro 78 million last year,” said Simon Bold, Director for Betbull. “Net gaming revenue of Euro 16 million against Euro 13 million last year showed a consistency in operating margin, which highlights the group's competence in the retail betting sector.
”Group activities in Germany continue to provide solid net results, supporting the significant start-up funding required in Madrid, where the joint venture, Betbull Bwin Espana SA, is in the process of opening the first trading units. We believe our investment in Madrid will provide significant contributions to group profits in the future.
”The concentration of resources on just two regions, Germany and Spain, will help to streamline the company and reduce costs. Non-core activities, including online exchange betting, are being discontinued and will be eliminated during 2009.”
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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