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SPORTINGBET: STRONG Q1 FINANCIALS

Wednesday,  November 30 ,2011 : Geographic diversity pays off as total revenues in fiscal Q1 rise 17 percent to GBP 59.9 million
 
The veteran online gambling group Sportingbet plc posted its unaudited results for the first quarter ended 31 October 2011 this week, showcasing a rise in revenues of 17 percent overall, to GBP 59.9 million.
 
Financial highlights of the results included:
 
* Amounts wagered up 35 percent to GBP 693.7 million (Q1 2010: GBP 513.9 million)
 
* Total revenue up 17 percent to GBP 59.9 million (Q1 2010: GBP 51.1 million)
 
* EBITDA GBP 10.2 million (Q1 2010:GBP 11.3 million) a decline mainly due to GBP 4.3 million in new taxes in Greece and Spain
 
* Net Cash GBP 30.8 million (Q1 2010: GBP 22.4 million.)
 
Operational highlights at group level featured:
 
* The completion of the Centrebet acquisition in Australia at the end of August
 
* The successful disposal last month of the legally troublesome Turkish online operations
 
* 40 percent of NGR now flowing from regulated foreign territories, and a further 18 percent from territories where the group is paying tax ahead of expected regulation
 
Management reported that in Australia:
 
* Total amounts wagered are up 95 percent
 
* Total NGR is up 165 percent (58 percent on a like-for-like basis)
 
* Centrebet has contributed GBP 2.4 million to profit before tax for the quarter
 
* Integration is progressing well and operational synergies are at least in line with previously stated targets
 
The group's European results incorporate those from its Emerging Markets Division and include:
 
* Amounts wagered down 4.8 percent - Spain up 1 percent, Greece down 11 percent in a financially troubled market
 
* Before new betting taxes, NGR down 3.4 percent
 
* Spanish and Greek betting taxes of GBP 4.3 million in the quarter
 
* In:play betting operations doing well and at an industry leading margin of 10.1 percent (2010: 9.7 percent)
 
* Mobile penetration continued with a 108 percent increase in actives year on year
 
Andrew McIver, group chief executive, said: "With total revenue in the first quarter up 17 percent to GBP 59.9 million, Sportingbet is in robust health due to our geographically diversified business model and quality sportsbook offer.
 
"With the acquisition of Centrebet in Australia and the disposal of our Turkish language website, we are making good progress towards our goal of deriving the majority of our revenues from regulated territories. The early signs from our enlarged Australian business are very encouraging and we look forward to making further progress there during the coming year.
 
"While trading in the Eurozone territories remains subdued, we welcome regulation in this key market and the greater certainty it brings to our revenues.
 
" The Group has made a solid start to its second quarter with trading in line with our expectations.''



Gambling News :

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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