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Betfair's interim management statement for fiscal Q3:2014

Thursday March 6 ,2014 :  MOBILE GOOD FOR BETFAIR
 
60 percent of sports book revenue now comes from the mobile channel.
 
Betfair's interim management statement for fiscal Q3:2014, the three months ended 31 January 2014, underlines the importance of the mobile channel for operators, noting that mobile revenue soared 68 percent and nore contributes 60 percent of sports book revenues.
 
Other highlights in the report included:
 
* 5 percent rise in revenues to GBP 95.4 million (Q3:2013: GBP 90.5 million), driven primarily by Sports and Betfair US, where a 12 percent increase in revenue from sustainable markets was achieved;
 
* Mobile revenue up 68 percent and now represents 60 percent of Sportsbook revenue; mobile gaming revenue also trebled in the period;
 
* EBITDA up 28 percent to GBP 20.2 million (Q3:2013: GBP 15.8 million);
 
* EBITDA margin 21.2 percent, up from 17.5 percent in the prior year.
 
* Integration of sportsbook and betting exchange producing good results;
 
* Volume of bets on risk sports products doubled and Sports revenue up 27 percent driven by the launch of a new Sportsbook in February 2013;
 
* Betfair US revenue up 24 percent, boosted by horserace and on line casino betting in New Jersey;
 
* Active customers in sustainable markets up 26 percent to 424,000, driven primarily by the new Sportsbook. The number of actives in other markets was down 23 percent at 137,000, reflecting Betfair's focus on regulated jurisdictions.
 
* Management anticipates that full year EBITDA will be between GBP82 million and GBP 87 million.
 
By activity, Betfair's core exchange division brought in GBP 56.7 million in revenues over the quarter, up 1 percent; sports betting delivered another GBP 9.5 million - up 27 percent from a low base; and casino gaming contributed GBP 18.5 million - a 3 percent improvement.
 
Breon Corcoran, Betfair's chief executive officer, commented:
 
"Betfair had a good quarter against all key metrics, with growth in customer numbers, revenues and profits. We are now competing more aggressively and are investing heavily in customer marketing and product development.
 
"In 2014, we will double our share of voice on television and are delighted to have recently signed a deal with ITV to become a Gold partner for its football coverage over the next 15 months, including the World Cup and Champions League. This complements our major presence on Sky Sports and recent return to Channel 4 Racing.
 
"I am excited to report that we have now integrated our Exchange and Sportsbook, allowing the odds on certain Sportsbook bets to be boosted by leveraging the superior value available on the Exchange. We call this a ‘Price Rush’. As this is rolled out across more markets, Sportsbook customers will enjoy a better betting experience and Exchange liquidity will be further strengthened."



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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