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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."



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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