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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 :

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

Iforium In Partnership With Booming Games - Iforium, the leading provider of casino aggregation software, are pleased to announce a new agreement with Booming Games

PartyPoker Rakebak - Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.

NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

NBA Odds: Wizards-Celtics at the Garden - The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.

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