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SportingBet 30 percent rise in third quarter NGR

5/26/10 - Gilt-tinged third quarter results from its Australian operations has enabled online gambling group Sportingbet to deliver another set of strong performance numbers to its shareholders despite the economic difficulties in the Greek and Spanish economies.
Results from Downunder enabled the group to post a third quarter rise in NGR of 30 percent compared to the same period in 2009 as net gaming revenue reached GBP 55.7 million for the three months ended 30 April 2010 (Q3 2009: GBP 42.9 million). Operating profit achieved an 18 percent increase over last year, rising to GBP 12 million (Q3 2009: GBP 10.2 million).
Q3 NGR from Australian operations rocketed 167 percent to GBP 10.4 million (Q3 2009: GBP 3.9 million), although 23 percent was made up of favourable foreign exchange movements.
The company's sports margin increased substantially to 5.9 percent compared to 2.9 percent in 2009. In Europe, the firm's sports betting activities achieved a 21 percent rise in NGR to GBP 29.2 million (Q3 2009: GBP 24.1 million), whilst online casino business in the region delivers growth of 17 percent to GBP 11.6 million (Q3 2009: GBP 9.9 million).
Online poker declined, dropping 10 percent to GBP 4.5 million as competition against major sites still servicing the US market intensified.
Chief executive officer Andrew McIver confirmed the company's intention to secure French online sports betting and poker licensing in order to operate in the newly liberated French market, but cautioned: "It is going to take us longer to get the IT compliant site that we hitherto expected based on unofficial conversations with French authorities. We are estimating it will take us months to produce an IT system that is compliant.” 
McIver again expressed reservations about proposed French taxes, saying: “We still don’t know what some of the sports levies are going to be. If you make a 10 percent margin, and the starting point is a 7 percent turnover tax, you are down at 3 percent already. If you have to give 1 percent [of that] to the sports federation, you are down to 2 percent. You just need those sports levies to equal 2 percent, and then, what’s the point?”

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Gambling News :

FanDuel adds English Premier League action - Daily fantasy sports operator FanDuel, which is now additionally active in the UK market, has announced the inclusion on its roster of English Premier League action, with associated contests scheduled for roll-out next week.

Fortuna Entertainment Group in deal with Czech Football Association - Online gambling operator Fortuna Entertainment Group Nv has announced a sponsorship deal for an undisclosed consideration with the Czech Football Association (FAČR), effective from the 2018-19 season for six years.

Paddy Power and Inspired in Deal - The new agreement sees Paddy Power join a roster of other Inspired HTML 5 clients that includes William Hill, Gala Coral, Bet365 and Betfred.

Martin Crowley DraftKings Collusion Charges Dismissed - Our readers may recall a story that surfaced last month in which allegations were made that there was suspected collusion in a million dollar fantasy sports competition at DraftKings.

BeBetway British Horse racing Authority Authorized Betting Partner - Online gambling operator Betway has become the latest bookmaking firm to agree to voluntary payments over the next three years to the British Horse racing Authority in return for accreditation as an Authorized Betting Partner.

Coral Q4-2016 earnings reports - Ahead of its forthcoming merge with Ladbrokes, the online and land gambling group Coral published its Q4-2016 financial numbers Thursday, detailing the twelve week period ended September 25 2016.

Unibet in cooperation with - Online gambling operator Unibet Group has signed a cooperation agreement with the FIFA subsidiary Early Warning System GmbH (EWS).

Kiron Interactive in deal with Digitain - The online gambling expo and conference EiG 2016 has enabled two online gambling companies to come together in a commercial deal; specialist virtual games supplier Kiron Interactive has inked an agreement to distribute its virtual games via Armenia’s Digitain.

2016 World Poker Tour-best bet Bounty Scramble - That calmness and discipline not only kept Panzica in the game, but began to grind down Malones advantage, aided by some fortunate double up opportunities.

GLOBAL SPORTS BETTING WORTH $253.3 BILLION BY 2020 - Ujjwal Doshi, lead analyst at the research firm, says, “Low-cost cross-border service delivery is opening up sports betting markets, which were previously protected by state-regulated monopolies or dominant local operators.”

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