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Good Yearly Earnings For Entraction

The burgeoning Swedish online gambling network Entraction has shrugged off worldwide economic woes to deliver a strong set of Q4 and Full Year 2008 results this week.
 
For the year ended December 31 2008 the firm recorded an increase in net turnover of 48 percent in achieving SEK 346.1 million, well up on the previous year's SEK 234.6 million, and earnings after tax reached SEK 36.5 million, compared to a loss of SEK 33.2 million in 2007. 
 
Performance over the last quarter of the year was also impressive, with net turnover of SEK 102.8 million - a 43.4 percent increase over Q4 2007. Earnings after tax in quarter 4 were SEK 7.3 million, a major improvement on Q4 2007when a loss of SEK 22.2 million was recorded.
 
Highlights for the Full Year included:
 
* Net turnover amounted to SEK 346.1 million (2007: 234.6 million), an increase of 47.6 percent.
* Earnings before interest, taxes, depreciation and amortisation (EBITDA) SEK 54.7 million (2007 - a loss of -4.4).
* Operating profit of SEK 40.1 million achieved (2007 - a loss of -18.5).
* Earnings after tax amounted SEK 36.5 million (2007 loss of -33.2)
* Cash flow from operating activities at SEK 80.1 million ( 2007: SEK47.7 million).
 
Q4 2008 highlights:
 
* Net turnover SEK 102.8 million (2007: SEK71.7 million), up 43.4 percent.
* Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to SEK 13.7 million ( 2007: SEK 8.4 million).
* Operating profit amounted to SEK 10.0 million (2007 - loss of-6.4).
* Operating profit excluding costs for bonuses for the full year amounted to SEK 15.8 million.
* Earnings after tax amounted to SEK 7.3 million (2007 - loss of -22.2).
* Cash flow from operating activities amounted to SEK 37.2 million (2007: SEK 24.6 million).
 
The Board of Directors has proposed a redemption of shares, distributing SEK 12 million to the shareholders - about SEK 0.023 per share.
 
Entraction Holding AB has been approved for listing on First North Premier exchange.
 
Poker revenues over the year totalled SEK 237 596 000 (2007: SEK 180 167 000), and casino revenues SEK 61 748 000 (2007: SEK 23 396 000), whilst Sports revenues increased to SEK 10 001 000 from SEK 7 954 000 in FY 2007.
 
Net sales increased to SEK 346 132 000 from SEK 234 625 000 last time.



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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