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Gala Coral Profits Go Up

Revenues and gross profit rise at UK online and land gambling group
The Gala Coral online and land gambling group reports that for the year to end September 2012 its performance has improved, aided by good results from the interactive division.
* Turnover during the period rose 6 percent year-on-year to reach GBP 1.189 billion
* EBITDA for the year was up 11 percent to GBP 291.4 million; after deducting bonuses it was still 7 percent better than 2011 at GBP280.2 million.
* Statutory gross profit for the year reached GBP 923.6 million, up 8 percent on the preceding year.
* Interactive turnover increased 3 percent to GBP 72.5 million.
Carl Leaver, chief executive, said that 2012 had been an important and transitional year for the group.
“We have restructured into key operating divisions, bedded in a new operational management team and invested in our retail estate and online systems. This has resulted in the first growth in profitability for over five years against the backdrop of a difficult environment for retail and leisure businesses.
“In the final quarter of the year, the Group delivered another solid performance with EBITDA growth of nine percent post-bonus and excluding week 53 despite trading losses in Italy in the final period due to extremely poor sports results.
“July saw the launch of our new website and early growth from both this and the new website has been positive. With the re-launch of in October, our new interactive businesses are now fully up and running and we are targeting significant growth over the forthcoming year.”

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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