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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.”
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.
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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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