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Gambling: Centrebet Good Earnings
The Australian business media are reporting that online gambling group Centrebet is expecting its profits to be at the upper end of previous guidance reports, thanks to growth in the Australian Internet betting market, which has recently seen advertising restrictions removed after court actions.
The online betting group has also predicted strong profit growth in 2009/10 as it looks to increasing market share in Australia.
Centrebet spokesmen said the group's net profit after tax for the year ended June 30, 2009 would be at the upper end of its guidance of $10 million to $11 million on an adjusted basis, and $7.5 million to $8.5 million on an actual basis.
Based upon unaudited accounts, total revenue for the 2009 financial year rose 6 percent to $66.2 million, with Australian online revenue - representing 50 percent of total revenue - up 23 percent to $32.9 million.
European revenue (excluding poker) - representing 39 percent of total revenue - was flat at $26.1 million. European poker revenue - which represented six percent of total revenue - was down by 17 percent, at $3.8 million.
Centrebet managing director Con Kafataris said the company had responded well to recent deregulation in the betting industry.
"While deregulation of the industry has presented some short-term cost challenges, it has created an attractive outlook for Centrebet to continue to grow market share," he said in a statement.
"We expect the overall industry to show strong growth over the medium term, and Centrebet is well positioned to maximise our share of that growth through customer-focused product offerings, targeted marketing investment and disciplined risk and cost management."
Centrebet said its 2009/10 profit would be boosted by the full year effect of a cost rationalisation program that was now complete.
The company would also benefit from the launch in May of fixed odds management contracts with the West Australian, ACT and Tasmanian TABs.
Under the contracts, Centrebet will manage upwards of $200 million a year in fixed odds betting turnover on behalf of the TABs.
Centrebet said it would increase its spending on marketing in Australia and core European markets and reduce spending in non-core European markets.
Total spending on marketing in 2010 was expected to be less than in 2009.
In 2007/08, Centrebet increased its bottom-line net profit by 16.8 percent to $13.01 million.
The trading report pushed up share prices by 3.5 cents.
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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