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BetBull Earnings

9/5/09 - The hardships of a tough business and economic climate were apparent in the H1 2009 unaudited results released by Betbull this week, which showed a 28.6 percent drop in net gaming revenues to Euro 6.025 million (H1 2008: Euro 8,388 million).
Betting stakes for the six-month period dropped 13 percent year-on-year to Euro 44.3 million from Euro 50.9 million in 2008 while earnings before interest, tax, depreciation and amortisation including its joint venture in Madrid with Austria’s Bwin Interactive Entertainment AG fell by over Euro 2.1 million to come in at a negative Euro 1.318 million.
BetBull’s cash position decreased by Euro 2.5 million from H1 2008 to Euro 5.7 million, and EBITDA declined and went negative Euro 400 000.
German operations saw betting turnover for the first six months of this year sink 13 percent to Euro 44.3 million, which included the turnover associated with the Euro 2008 soccer tournament. Net gaming revenues for the period dropped 28.6 percent to just over Euro 6 million, which Management attributed to ‘industry-wide favourable results for the customer, particularly in the second quarter’.
In Spain, BetBull reports that its joint venture in Madrid had commenced opening betting shops, and anticipates having seven units in operation before the end of Q3 2009.
“The second quarter of 2009 is recognised as being one of the worst trading periods for the sportsbetting industry with results consistently favouring the customer,” said Simon Bold, a director of BetBull. “In addition to poor margins in the second quarter, the German units have experienced a downturn in turnover for the first six months of 2009 compared with the same period last year, which is due in part to the effect of Euro 2008. Turnover has further been hampered by legislative restrictions imposed in certain regions, which has affected some of the group's key locations.”

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Gambling News :

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

NYX Gaming Group Expanding in Italy - NYX Gaming Group says its continues to bridge the gap between online and land-based operators as it announced a new licensing deal in the Italian market.

Interwetten Q3 2016 Report - In a brief third quarter 2016 report, Malta-headquartered online gaming company Interwetten reported strong growth across all verticals, with an emphasis on online casino revenues.

Evolution Gaming Q3 2016 Report - Evolution Gaming Group AB delivered in its third quarter 2016 results reporting strong growth in revenue and a significant increase in mobile penetration. The company attributes is success to strong general growth and continued high demand for dedicated environments.

Ladbrokes Donates to Gamcare’s new Youth Program - UK gaming firm Ladbrokes has pledged GBP 180,000 to Gamcare’s new Youth Program over 2016 and 2017, following a visit by chief executive officer, Jim Mullen.

Dragonz Slot Launches - #Dragonz The creatures in this 243 ways to win game engage with play during the free spins round, triggered by three or more scatters on the reels, and each character leads four different free spins rounds.

Mecca Launch Instant Win Games - IWG has provided instant win content to lotteries for the past 15 years, amassing a portfolio of over 250 games. Its deal with Mecca signifies a move into the wider online gaming industry, servicing commercial brands and platforms.

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