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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.”
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To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
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NHL Odds: Lone Canadian Team Plays on Friday -
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The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
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PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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