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CORAL GROUP RELEASES INTERIM H1-2016 REPORT

CORAL GROUP RELEASES INTERIM H1-2016 REPORT
 
Taxes take a toll, but online performed well.
 
Gala Coral Group Limited released its financial results for the twenty eight weeks ended 9 April 2016 Wednesday, reporting the following highlights:
 
* Net revenue of GBP 604.9 million was GBP 70.5 million or 13 percent ahead of last year;
 
* Group EBITDA of GBP124.6 million - up GBP17.2 million or 16 percent year-on-year, and up 43 percent alfter adjusting for regulatory impacts;
 
* Retail EBITDA of GBP 79.3 million - up GBP 400,000, mainly from machine net revenue;
 
* Coral Connect sign-ups accelerated in Q2 with over 160,000  in H1, more than in the whole of FY15. Around 4,000new customers signed up every week;
 
* Eurobet Retail EBITDA of GBP 11.8 million: up GBP 4.9 million or 71 percent, with Sports stakes up 20 percent;
 
* Online EBITDA of GBP 37.1 million - up GBP 14.5 million or 64 percent, and up 118 percent after adjusting for regulatory impacts;
 
The online division performed particularly well, with online net revenue up 35 percent, Coral.co.uk net revenue up 58 percent, sports net revenue up 108 percent, and  Eurobet.it net revenue up 38 percent, with sports net revenue up 70 percent. Galabingo.com reported net revenue up 15 percent.
 
FY15 EBITDA has been rebased for the estimated impact of Point of Consumption Tax (-GBP 5.8 million, of which Online -GBP 5.6 million) and the increase in rate of MGD to 25 percent and DCMS FOBT higher staking restrictions (Coral Retail -GBP 14.5 million), calculated as if all changes had been in existence for the corresponding periods in FY15.
 
Carl Leaver, Gala Coral Group CEO, commented on the companys H1:2016 H1, observing:
 
“EBITDA growth of 16 percent in the first half of the year represents a very satisfactory performance for the Group. After adjusting for incremental regulatory costs, EBITDA was 43 percent ahead.
 
"Growth in the Online division continued to be particularly strong with net revenue 35 percent ahead of last year, and Coral.co.uk net revenue 58 percent ahead. Coral Connect, our multichannel offer, continues to be a key driver of growth. Sign-ups in Q2 have accelerated to around four thousand per week as a result of more targeted marketing.
 
"Total sign-ups since launch now stand at 493,000, with 160,000 being delivered in the first half of the financial year, more than in the whole of FY15.
 
"During the second quarter we also re-launched the Coral.co.uk mobile app on a proprietary platform. The transition went extremely well and the new platform provides greater flexibility to develop the product offering."

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Gambling News :

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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