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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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MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and €27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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