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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.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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