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Italy And Cyprus Gambling Market

The UK Gambling group Leisure and Gaming’s growing number of partners in the burgeoning Italian and Cypriot markets, especially the launch of real money online poker in Italy during the fourth quarter of 2008 has delivered better results than expected, the group revealed in a trading update this week.
 
L&G's land Italian partner network grew by 13 percent, or 65 outlets, to 584, and in Cyprus the number of partners more than doubled, from 21 up to 47. Online gambling operations in Greece were also positive, the result of the

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launch of new casino products relevant to that demographic.
 
L&G's release of its key performance indicators showed that the three month period to the end of December 2008 delivered an increase in the amounts wagered of 6 percent to Euro 24.1 million, compared with Euro 22.7 million in 2007.
 
Gross profit was up 11 percent to Euro 2 million (2007: Euro 1.8 million) and net win was up 5 percent to Euro 6.5 million (2007: Euro 6.2 million). Net win margin declined marhginally by 0.3 percent to 27 percent, and the group reported Euro1.5 million on its balance sheet as of 31 December 2008, excluding cash held in escrow covering guarantees of Euro 2.2 million.
 
Leisure and Gaming said its bank loans and sterling overdraft had been converted into a three-year Euro loan of €1.3m with equal annual repayment geared to business cash flow.
 
Chief executive Richard Creed said trading since the New Year had been ahead of expectations, with no reduction in customer spending or business activity.
 
“In particular, the introduction of real-money poker tournaments in Italy has been well received," Creed revealed. "In the six weeks to 31 December 2008, 4 886 unique customers played in these tournaments, of which 80 percent were existing customers, with 20 percent of new poker customers also wagering on sports events. The rescheduling of bank and loan note borrowings results in annual capital and interest repayments being projected to be less than 25 percent of cash flow over the next year.”



Gambling News :

MLB Odds: Stroman Gets the Nod Against Royals - The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.

Microgaming in bingo software deal with Marathonbet - Marathonbet’s loyal customers will now be able to enjoy an extensive Bingo offering – marking another big expansion of its online gaming collection.

Microgaming QuickFire enters Coloumbia - Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.

Partypoker to sponsor WSOPC Uruguay - Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.

MLB Odds: Jays Hope to Spoil Orioles’ Visit - The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.

Money Storm Casino - Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.

Big Online SLot Win on Ultimate 10X Slot - At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000

MPN Greatest Poker Player in the Universe - The MPN announces the third annual Universal Championship of Poker (UCOP III), boasting €750,000 guaranteed across 59 tournament events this September

PartyPoker Exits Australia - From 31st August 2017 partypoker players will no longer be able to play from Australia. Players’ deposited funds are safe and available for withdrawal.

Mercury Poker Live on Indian Poker Network - Mercury Poker Live on MPN's Indian Poker Network. MPN India, established in 2015, is a ring-fenced poker network dedicated to the Indian market and operating exclusively in Indian Rupees.

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