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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 :
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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