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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.”



Gambling News :

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

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