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Sky Betting Expanding into Italian Market
SKYBET GEARING UP FOR PUSH INTO ITALIAN AND GERMAN MARKETS
Strong UK growth encourages expansion plans.
UK online operator Sky Betting and Gaming is gearing up for an international expansion in 2017 involving Italy and Germany following strong growth in the British market.
The Financial Times reports that the expansion follows private equity firm CVCs GBP 800 million acquisition of a controlling stake in the betting group in 2014, and SkyBets achievement of a controlling stake in Sky Deutschland and Sky Italia in the same year, strengthening its potential in the German and Italian markets.
SkyBets chief executive, Richard Flint, told the FT this weekend that his company has hired staff in Germany and Italy, and has begun testing its site in with a small group of customers in both countries. He revealed that a more formal launch ios planned for next year, when the company will begin to advertise in both markets.
“We very much plan to follow a similar model as in the UK,” he said. “We’re experts in mobile apps. And with the Sky brand and the relationship we have with the broadcaster we have been successful in the UK.
“We see that being replicated at a high level Germany and Italy, although the exact mechanics of what broadcasters are looking for and what individual programmes might be looking for will depend on the needs of the local market.”
On Monday, SkyBet released its full-year results for the 12 months ended June 30. Revenues rose 51 percent to GBP 373.6 million, up from GBP 247.5 million a year earlier. No figures for profit were available.
The majority of the rise came from SkyBets sports betting division which grew 64 percent over the year and accounted for GBP 214.1 million of group revenues.
The gaming division, which includes successful brands runs brands Sky Casino, Sky Bingo and Sky Poker, accounted for GBP 159.5 million, representing a 36 percent year-on-year increase.
The company also said it has increased its number of customers to 1.95 million compared with 1.48 million a year earlier.
Flint addressed recent media speculation that the company was about to float an IPO that could value the group at GBP 1.5 billion, saying:
“There is no plan or timescale for a float. At some point, CVC will want to exit and an IPO is a possibility, but there is no timescale.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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