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SPORTS MARGINS EASE AT BETSSON
The normally buoyant sports betting margins at Swedish online gambling group Betsson recorded a first half 2.6 percentage point decline in the six months to June 30 2009, dropping from 10.5 percent to 7.9 percent.
Management blamed a run of sports results that favoured the player rather than the operator for the decline, which was also apparent in the quarterly numbers, where a 9.8 percent margin slipped to 4.7 percent.
Betsson chief executive Pontus Lindwall remained optimistic, however, commenting that customer action and deposits had never been higher than in the second quarter, indicating solid growth.
H1 2009 revenues were up 29 percent to SEK 600 million ($80 million), from SEK 464.7 million in H1 2008, and on a quarterly basis were up 20 percent to SEK 284.6 million (Q2 2008: SEK236.9 million).
There was a slight one percent increase in pre-tax profit to SEK 62 million over the quarter and a 22 percent rise to SEK145 million over the first half of the year.
Deposits by the punters grew by 32 percent during the second quarter and gross sportsbook turnover rose 73 percent to SEK 644.8 million (Q2 2008: SEK373.2 million).
The Malta-based scratch card games developer Neo Games has signed an agreement with Betsson which will see the integration of this style of instant win games on the Betsson platform, management revealed. Betsson will launch a white label platform in partnership with Nordic Entertainment to exploit the format.
70 percent of total gross profit for Q2 2009 came from casino operations, up 10 percent on the same period last year. Poker saw a decline, from 19 percent last year to 14.2 percent this time, and sportsbetting contributed 11.5 percent of gross profits, nicely up on the 7.5 percent recorded in the Q2 2008.
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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 -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
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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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