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Stanleybet Holdings has returned to profit,
Friday August 24,2012 : STANLEYBET INTERNATIONAL RETURNS TO PROFIT
Pre-tax profit of GBP 10 million a big improvement on previous year's GBP 822,000 loss
Stanleybet Holdings has returned to profit, reporting that its full-year 2011 pre-tax profit reached GBP 10 million - a significant improvement over 2010's loss of GBP 822,000.
The improvement was achieved despite turnover declining to GBP 385 million (2010: GBP 430 million).
Chief executive David Purvis was upbeat about transformation and internet gaming, noting that the company's launch of online gaming services across Europe could drive turnover upwards from next year.
He revealed that the company has been working for about 12 months preparing for e-gaming.
The group has faced legal battles across Europe as individual states look to protect local monopolies. It is still pursuing a Euro 1.5 billion compensation claim against the Italian government.
“Despite the current financial year (2011) being relatively non-eventful with respect to sporting activities and further economic uncertainty across Europe, year-on- year performance for the group improved significantly after better trading results and a reduction in exceptional administrative expenses helped to deliver a group profit," Management reported.
“The improvement in trading results was driven by development of the customer offer which not only reduced our market risk but also led to a wider appeal to our customer base through product choice and innovation.
"Trading conditions are expected to remain challenging.”
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
Money Storm Casino -
Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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