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Posted 2/1/11 : Gaming revenues rise in latest report from online gambling group
The Isle of Man-domiciled online gambling group GVC Holdings plc has released its latest trading update, showing total net gaming revenues for the year 2010 up 5.2 percent to Euro 54.8 million.
Sports wagers rose 23 percent to Euro 69.3 million, although the hold was lower at 13.3 percent (2009:16.6 percent) resulting in a 4 percent drop in sports NGR to Euro 8.7 million.
Revenues from gaming for the year rose 7.7 percent to Euro 46 million.
The group’s Casino Club brand reported total revenues down at Euro 27 442 000 (2009: Euro 29 434 000), whilst Betaland recorded Euro 55 934 000 (2009: Euro 52 907 000) and a margin of 15.7 percent (2009: 17.7 percent)
Betboo achieved revenues of 13 379 000, well up from the Euro 2 867 000 in the company’s launch year.
GVC reports that the top performing quarter of the year was Q4/2010, where sports wagers were 31 percent higher than in Q4/2009, but the hold was substantially lower at 7.3 percent (Q4/2009: 21.6 percent)
“Gaming revenues have now returned to the Q4/2009 levels, suggesting greater economic consumer confidence,” the report notes.
The results are in line with group expectations, and cash available stands at Euro 5.7 million.
Betboo commenced trading in Malta with a staff of 20 personnel and targeting emerging markets on January 5th this year.
There have been no further developments in the group’s litigation with Boss Media, which will next he heard on February 24.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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