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Great Q1 Results for Gala Coral

Monday March 2,2015 :  GALA CORAL PRESENT ROBUST FIRST QUARTER RESULTS

Adverse football results have a negative impact on an otherwise strong performance.

Gala Coral Group is hailing strong online and multichannel growth in its latest quarterly performance while bemoaning the impact of adverse football results.

Key performance highlights for the sixteen week period ending January 17, 2015 include:

  • Total Group Opco EBITDA GBP 6.8 million or 11 percent ahead of last year
  • Gross profit of GBP 267.4 million was GBP 12.3 million or 5 percent ahead of last year primarily driven by Online.
  • Online EBITDA 19 percent ahead (53 percent ahead pre Point of Consumption tax) with Coral.co.uk stakes 74 percent ahead, Galabingo.com stakes 34 percent ahead and Eurobet.it sports stakes 44 percent ahead.
  • Volume growth in Eurobet Retail (sports stakes +22 percent) offset by weak sports margins
  • Gala Retail EBITDA 66 percent ahead – driven by the bingo duty benefit and 4 percent increase in spend-per- head


“The Group has continued to leverage the investments it has made in its key drivers of growth: Online, Multichannel and Italy, delivering an increase in EBITDA of GBP 6.8 million or 11% percent compared to the same quarter last year,” commented Carl Leaver, chief executive officer for Gala Coral Group. “This was despite some very poor football margins in both the UK and Italy.

Online key performance highlights for the 16 week period ending January 17, 2015 include:

  • Online EBITDA of GBP 12.9 million was GBP 2.1 million or 19 percent ahead of last year despite adverse football results and the implementation of Point of Consumption (‘PoC’) tax.  Pre-PoC EBITDA growth was GB 5.7 million or 53 percent.
  • Coral.co.uk showed strong growth in actives 49 percent up and spend-per-head up 17 percent ahead of the same quarter last year.
  • Mobile now represents 61 percent of sports and gaming stakes, an increase of 13 percent in sports and 11 percent in gaming y-o-y. 
  • Galabingo.com spend-per-head was 33 percent ahead, primarily driven by improvements to the VIP programme.
  • Mobile represented 45 percent of bingo stakes, an increase of 17pp from the prior year, and
  • Eurobet.it actives increased 39 percent.  The operation significantly outperformed the market claiming No.2 in Italy’s online sports betting market.

The group reported a strong first six weeks of trading to March 2, 2015 with continued growth in its Online division, however, sports margins it says in Eurobet Retail and Eurobet.it have remained disappointing although volumes remain strong.

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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.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

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.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

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.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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