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Posted 2/17/11 : UK betting group delivers results at the upper end of expectations
The 20 percent rise in full year operating profit reported this week by UK gambling group Ladbrokes plc should keep the shareholders happy. The land and online gambling group made an operating profit of GBP202.3 million pounds in 2010, up from GBP168.5 million the year before, thanks mainly to the popularity of new gambling machines and in-play betting.
Market expectations had ranged between GBP186 and GBP204 million with the consensus at GBP195 million, according to a Thomson Reuters poll of 16 analysts.
The company announced preliminary results for the year ended 31 December 2010, posting profit attributable to equity holders of GBP348.3 million or 38.4 pence per share, well up from GBP74.4 million or 9.9 pence per share last year.
Profit for the year - continuing operations was GBP375.4 million, compared to GBP146.4 million in the prior year. Profit before taxation was GBP147.1 million, lower than GBP174.1 million a year ago, whilst pre-tax profit increased to GBP193.3 million from GBP191.3 million in the previous year.
However, revenue declined to GBP980.1 million from GBP1.03 billion in the prior year.
The Board has announced a final dividend of 3.75 pence per share taking the full year dividend to 7.60 pence per share.

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Gambling News :

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.

NYX Gaming Group Expanding in Italy - NYX Gaming Group says its continues to bridge the gap between online and land-based operators as it announced a new licensing deal in the Italian market.

Interwetten Q3 2016 Report - In a brief third quarter 2016 report, Malta-headquartered online gaming company Interwetten reported strong growth across all verticals, with an emphasis on online casino revenues.

Evolution Gaming Q3 2016 Report - Evolution Gaming Group AB delivered in its third quarter 2016 results reporting strong growth in revenue and a significant increase in mobile penetration. The company attributes is success to strong general growth and continued high demand for dedicated environments.

Ladbrokes Donates to Gamcare’s new Youth Program - UK gaming firm Ladbrokes has pledged GBP 180,000 to Gamcare’s new Youth Program over 2016 and 2017, following a visit by chief executive officer, Jim Mullen.

Dragonz Slot Launches - #Dragonz The creatures in this 243 ways to win game engage with play during the free spins round, triggered by three or more scatters on the reels, and each character leads four different free spins rounds.

Mecca Launch Instant Win Games - IWG has provided instant win content to lotteries for the past 15 years, amassing a portfolio of over 250 games. Its deal with Mecca signifies a move into the wider online gaming industry, servicing commercial brands and platforms.

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