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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 :

Local Florida Poker Pros Scam Marc Klang For $500k - Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

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