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SERIOUS PROFIT DIVE AT GENTING INTERNATIONAL
The Malaysian gaming group Genting International, which has European interests, had bad news for investors this week with Q1 2008 profits dipping 91 percent to $4.4 million (Q1 2007: 49 million) as a consquence of reduced action in its British land casinos, and a higher incidence of bad debts.
Genting entered the UK gaming market in 2005 with its acquisition of Maxims casino, followed by that of Stanley Leisure in 2006. The group operates some 41 terrestrial casinos in Britain under the Circus, Mint and Maxims brands, and has also acquired a 10 percent shareholding in Rank Group plc (see previous InfoPowa report), sparking speculation of a bidding war for the UK bingo and casino operator whose share value has declined since an earnings warning in October 2007.
The light at the end of the tunnel may lie in one paragraph of the company's extensive financial report, which notes that the group
received approval from the Singapore Exchange Securities Trading Limited earlier this year for it to undertake online gambling operations in Alderney and the United Kingdom.
Subsequent to that approval, Genting Stanley Alderney Limited, a wholly owned subsidiary of the group, received its online gaming licence from the Alderney Gambling Control Commission in March 2008.
The permission to go live is subject to the AGCC’s approval of the new operation's Internal Control System and Gambling [software] equipment, but GSAL anticipates that its online gaming businesses will commence during the later part of the second quarter of 2008. It is not presently known which gambling software will power the new venture.
Gambling News :
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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