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Svenska Spel H1-2016 Numbers

FLAT PERFORMANCE FROM SVENSKA SPEL IN H1-2016
 
Swedens state-run online and land gambling company bemoans tough competitive conditions.
 
Swedens state-run online and land gambling group Svenska Spel has posted a mediocre and largely flat set of numbers for the first half of 2016, bemoaning tough competitive conditions in the market.
 
Highlights of the report include:
 
* NGR up 1 percent year-on-year at SEK4.4 billion (Euro 463.4 million);
 
* Operating profit up 0.9 percent y-o-y at SEK2.4 billion;
 
* Net income up 1.2 percent to SEK2.4 billion, with a slightly lower operating margin of 22.1 percent;
 
* Online operations accounted for most of the growth, increasing 9 percent in the second quarter, while sales via mobile phones increased by 53 percent. In June, the company launched an app for the Euro 2016 football championship that was downloaded by over 170,000 people.
 
The company reported that the second quarter was particularly tough. with net gaming revenue down 2.4 percent on a y-o-y basis at SEK 2.1 billion, and operating income declining 4.8 percent to SEK 1.1 billion. Profit for Q2-2016 declined 3.3 percent y-o-y to SEK 1.1 billion on a lower 21 percent margin.
 
Chief executive officer Lennart Käll reported to shareholders:
 
“We increased net gaming revenue overall for the first half compared with the previous year. However, we saw a drop in growth, particularly during May, which affected the second quarter negatively, but from June we once again see growth.
 
“We will continue to strengthen customer relations further and increase the pace of innovation by delivering new experiences, new products and services."

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Gambling News :

2017 MPN Poker Tour - Main Event packages, worth €1,500, are available online and players can qualify via any of the MPN participating card rooms through a variety of satellites, with buy-ins starting as low as €0.25. Each €1,500 package includes:

Realistic Games in deal with Kindred Group - The UK-based online gambling games developer Realistic Games has signed a deal to supply its games to online operator Kindred Group, parent company of quality brands that include Unibet, Stan James and Maria Casino.

Opposition to Anti Online Gambling Bill in Congress Lame Duck Session - Action groups appeal to House Appropriations Subcommittee to ensure that RAWA style language is not attached to unrelated spending bill.

DFS banning bill Introduced in Illinois - The legislative season in Illinois may be drawing to a close, but that hasn't stopped a new bid to ban daily fantasy sports from being assigned to the House Executive Committee; whether there is sufficient time to pass the bill is a matter for speculation.

Cambodia To More Closely Control Online Gambling - Cambodia, where online #gambling is operated by licensed land casinos alone, and Cambodian punters are banned from participating, is to tighten monitoring, control and management of the activity by setting up a centralized server, a Ministry of the Economy official revealed this week in a media interview.

Jimei group distances itself from his Philippines activities - The move followed news that the Philippines authorities have issued a warrant for Lam's arrest on charges of economic sabotage and attempted bribery, according to local media reports. His investor visa privileges have already been withdrawn.

South Africa Land Casino Owners Still Feel Online Gambling is a Threat - The latest annual report of the #Casino Association of South Africa, a trade association for most of the country's land casino operators, continues to cite online gambling

Spinomenal Appoints Eduardo Tupper as COO - Israeli software developer, Spinomenal, has appointed former chief operating officer of Ortiz Gaming, Eduardo Tupper, as Senior Vice President.

Ninja Power Slot Launched By Slotland - I think our players will be inspired by the ninja warrior characters the game designers have created,” said Slotland manager Michael Hilary. “These warriors fought hard, gave it all they had. Quitting wasn’t an option.

WILL JACK LAM RETURN TO THE PHILIPPINES TO TURN HIMSELF IN? - The Philippines online gambling and bribery scandal keeps throwing up new developments almost daily, with the latest a report that Macau-based online gambling tycoon - the man at the centre of the furore - has put out tentative "surrender" feelers.

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