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Betsson First Q Earnings

4/27/10 - The Swedish online gambling operator Betsson AB has posted positive quarter 1/2010 results, reporting a 17 percent rise in revenues to : SEK 367.7 (Q1 2009 - SEK315.5) million.
 
Other highlights of the company's first quarter include:
 
* Over SEK 1 billion in gross turnover was achieved in sports betting operations, a substantial increase of 89 percent
 
* Operating income increased to SEK 84.2 (82.4) million, an increase of 2 percent
 
* Operating income has been charged with a cost of SEK 9.2 (revenue 5.6) million regarding currency revaluation of balance sheet items
 
* The effect from capitalisations and amortisations of capitalised development cost declined to SEK 600 000 (7.8) million
 
* Income before tax rose to SEK 84.6 (83.0) million
 
* Income for the period totalled SEK 80.2 (78.8) million
 
* Cash by the end of the period stood at SEK 520.4 million, well up from Q1 2009's SEK 436.8 million and the group has no interest-bearing liabilities
 
* Customer deposits increased by 31 percent to SEK 964.9 (735.6) million
 
* Betsson has broadened both online poker and casino offerings
 
CEO Pontus Lindwall attributed the positive quarter to the marketing philosophy of his company: "We give the players what they want," he said. "Betsson´s investments in the sportsbook [sector] have proved to be successful. The sportsbook increase [in turnover] was up 89 percent despite the highly competitive nature of the Swedish market. This clearly shows that Betsson has gained market share.”

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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