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EBITDA sportsbetting group profits up
1/19/10 - The spreadbetting company IG Group has cause to be pleased with its performance, having posted a solid six month result that saw EBITDA soar 34 percent to GBP 81 million (HY 2008 GBP 60.2 million) and an increase in its UK customer base of 29 percent.
A company spokesman said that the results were mainly due to strong growth Australia, continental Europe and Singapore, with the UK producing imprssive results as well.
Trading revenue rose 14 percent to GBP 143.8 million over the six months, and the EBITDA margin was well up on the same period previously, reaching 56.4 percent (2008: 47.4 percent). Re-tax profit was up 34 percent, reaching GBP 78 million.
"IG has again delivered record results with strong growth in both revenue and profits," said CEO Tim Howkins. "We continue to experience strong levels of activity and account opening, both in the UK and overseas, where our expansion continues. All our markets have great potential and IG is well positioned to deliver further growth."
Howkins reported that the company's South African subsidiary, IG Markets South Africa, is due to expand after acquiring marketing data from another company.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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