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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 :

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.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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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