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CORAL POSTS STRONG 2015 RESULTS
Thursday, March 3, 2016 : CORAL POSTS STRONG 2015 RESULTS
Solid underlying EBITDA growth with continued momentum in all divisions
The land and online gambling group Coral - set to merge with Ladbrokes this year - has posted a strong set of results for the sixteen week period to 16 January 20916, highlighting:
* Total Coral Group EBITDA of £62.4 million - up 14 percent on the same period last year;
* Growth in all divisions;
* After adjusting for regulatory impacts EBITDA up year on year by 59 percent, thanks mainly to better football results;
* Online EBITDA of £18.5 million up 55 percent year-on-year and 194 percent ahead after adjusting for regulatory impacts.
* Online net revenue was 41 percent ahead, with Coral.co.uk 69 percent ahead;
* Coral Retail EBITDA of £40.7 million, up GBP 200,000 on last year, and £9.6 million or 31 percent ahead after adjusting for the impact of regulation, with OTC margins 1.5pp ahead;
* Eurobet Retail EBITDA of £5.1 million up 132 percent year on year with strong sports stakes growth and sports margins 5.9pp ahead;
* Sale of Gala Retail to Caledonia Investments for a headline price of £241 million completed on 19th December 2015.
Carl Leaver, Group CEO, commented:
"Online growth was strong driven by CRM-led reductions in churn and high levels of customer acquisition at market leading costs-per-acquisition.
"Multichannel continues to play a key role in driving both customer acquisition and retention as customers embrace the unique features of our Connect offering.
"Coral Retail saw positive OTC stakes growth and a good machines performance. Strong growth in Eurobet Retail was helped by the relocation of 250 shops to more profitable locations.
"We continue to work constructively with the Competition and Markets Authority as it progresses through phase 2 of its review of the proposed merger with Ladbrokes PLC.
"Timescales are in-line with our expectations, with the next key milestone being the CMA’s announcement of its provisional findings, and if required, proposed remedies, in mid-to-late April. A final decision is due by 24th June. In the meantime our teams remain firmly focused on the execution of our strategy. We are confident that we are very well placed for the year ahead.”
Americas Card Room Online Super Series Starts Now -
The OSS Cub3d is Americas Cardroom’s 3-part tournament series. It features the Mini Online Super Series (MOSS), the now-underway Online Super Series (OSS), and the upcoming Bigger Online Super Series (BOSS).
New Quick Seat feature at Ignition Poker -
New Quick Seat feature at Ignition Poker.In order to ensure our poker players’ user experience is even more seamless, we’ve introduced a new feature in our poker software called Quick Seat for both Ignition Poker.
Finnish people prefer the government to run the casinos -
Nordic countries have been, historically, the main markets for the online casino operators. The reasons for this are rather clear - these countries are very cold and people simply prefer to stay home and gamble than go outside to visit a casino.
NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 -
The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?
Caesar’s Triumph Slot Launches -
Caesar’s Triumph is new slot at Bovada that features the Roman dictator in all his glory. The action takes place on five reels where you’ll find 20 paylines and plenty of ways to spin your way to victory.
NHL Odds: Pacific Division Foes Face Off in Edmonton -
The Edmonton Oilers will attempt to defend their home ice advantage this Friday (10:30 PM ET on Sportsnet) against the San Jose Sharks. The Oilers (47-26-9) finished second in the Pacific, while the Sharks (46-29-7) finished third, but only four points behind their First Round foes.
Bingo Cataratas Offers Unique Spin on Classic bingo -
Bingo Cataratas (Spanish for waterfalls) is changing the way people think about bingo according to Bovada. Just because bingo is a classic with a huge following, doesn’t mean it can’t be spiced up with a fresh new format. Bingo Cataratas has the basic structure of bingo, but also has an “extra ball” feature and a bonus mini game.
NBA Odds: Hawks-Pacers in Regular-Season Finale -
Depending on the results of Game No. 81, Wednesday’s regular-season finale (8 PM ET, ESPN) between the Atlanta Hawks and Indiana Pacers could decide whether Indiana reaches the postseason. It could also give the Pacers a higher seed than Atlanta in the Eastern Conference playoffs.
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