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BETCLIC EVEREST ONLINE GAMBLING GROUP BATTLING
Thursday June 21, 2012 : BETCLIC EVEREST ONLINE GAMBLING GROUP BATTLING
Half-owner Societe des Bains de Mer reports serious losses
Societe des Bains de Mer, a fifty percent owner of the troubled Betclic-Everest online gambling group, posted a lacklustre set of annual financial results Wednesday, recording that its net deficit had almost doubled to Euro 33.2 million.
Operating income before depreciation from April 1, 2011 to March 31, 2012 decreased by 16 percent year-on-year while operational losses rose by Euro 6.7 million when compared to the previous twelve-month period.
The Betclic Everest investment gave SBM little comfort, with SBM declaring a loss of Euro 50.2 million against its stake in the betting group, which it said was attributable to the ‘implementation of a particularly stringent taxation system’, operational level ‘penalties’ associated with the opening conditions of the French online gaming market and the ‘load related to remuneration of intangible assets and support for this period’s partial depreciation of goodwill noted by the participation of Everest Limited’.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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