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Jaxx Q1/2010 revenues up 26 percent, but EBITDA takes a knock

5/17/10 - The German internet gambling company Jaxx AG appears to have enjoyed an improved first quarter 2010, judging by its latest numbers, which show revenues up 26 percent on the corresponding period last year.
 
Quarterly revenues reached Euro 31.9 million, with growth driven mainly by a 41.6 percent rise in sports betting, which rose to Euro 25.2 million, generating improved gross profits of Euro 5.4 million – a rise of 14 percent on margins of 21 percent (Q1/2010: 27 percent).
 
However, the improvements did not permeate through to EBITDA, which fell from Euro 2.1 million in Q1/2009 to Euro 1.6 million in Q1/2010.
 
Consolidated earnings for the quarter went Euro 81 000 into the red ink, a serious decline from Q1/2009’s profit of Euro 91 000.
 
Management is betting on an improvement in results through the World Cup in South Africa next (June) month , with subsidiary My Bet planning to launch a live betting service in time for the start of the World Cup action.
 
“All in all, the World Cup means that higher revenue is expected in the second quarter,” management advised shareholders.
 
“Increased marketing spending aimed at generating new customers is, nevertheless, initially likely to be a burden on earnings. Based on a larger customer base, a lasting improvement in earnings in the sports betting segment is then expected in the second half of the year.
 
“From an economic viewpoint, it remains the expectation of the management board that rising revenues will lead to a positive result for the 2010 financial year.”



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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