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Sportsbetting firm plans an online casino in third quarter 2008
Online sportsbetting company Betbull has reported a 9 percent increase to $5.8 million in NGR in the first quarter, compared to the last quarter of 2007, but has only managed to equal the numbers from Q1 2007.
The London-based company revealed that losses after tax increased to $361 524 from last year’s $146 393. Earnings before tax dropped 40 percent to $462 668 despite a nine percent increase in betting stakes to $34.2 million quarter-on-quarter and an increase of 13 percent compared to the previous year.
In a statement this week the Betbull management revealed that an online casino operation would be launched during Q3 2008. The statement did not elaborate further on the software selected. The company also announced that its joint venture with Bwin would soon receive a retail betting license for the autonomous community of Madrid in Spain.
"Our German operation has exceeded expectations during what promised to be a very difficult first quarter,” said Simon Bold, Director of Betbull. “We find this very encouraging. In Spain, we continue to develop a structure to support not only retail units in Madrid when that licence is granted but also for the other major provinces where Betbull will compete for licenses in the near future. We see the Spanish market as an opportunity to extending our client base beyond the traditional betting shop customer profile."
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ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
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The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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