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Ladbrokes plc has posted its Q1-2014 results

Wednesday April 30,2014 :  WEAK Q1-2014 PERFORMANCE FROM LADBROKES
 
But mobile sports betting  looks more promising.
 
The British online and land gambling group Ladbrokes plc has posted its Q1-2014 results showing declining group revenues but encouraging developments in mobile sports betting.
 
CEO Richard Glynn added his voice to other executives in the industry in warning that government over-regulation and taxation in the UK presented a danger of betting shop closures and lost jobs, and are "unwelcome".
 
Highlights of the group's digital operational report include:
 
* Gaming products transitioned to Playtech Casino on 27 March
 
* Digital integration onto Playtech IMS/ single wallet platform completed on 29 April
 
* Positive Q1 mobile sportsbook key performance indicators, with mobile active player counts up 32 percent, and stakes up 95 percent.
 
* Operating profit came in at GBP 18.4 million - down from GBP 37.4 million in Q1 last year.
 
* UK retail gross win margin was down 2.7 percent at 16.2 percent
 
* Digital results were pulled down by online sportsbook revenue, which fell y-o-y by 17.9 percent; Gaming NGR likewise declined 17.7 percent.
 
* Since the end of the reporting quarter, Grand National sportsbook and mobile digital operational performance has been strong, and the group is anticipating enhanced activity in June from the World Cup football in Brazil.
 
However, group net revenues were down 2.3 percent at GBP 6.5 million, and in UK Retail net revenue sank a similar amount, although over-the-counter stakes were up 8.5 percent. High Roller net revenue soared 80.6 percent to GBP 13 million.
 
Group operating profit came in at GBP 18.4 million, consistent with FY14 guidance issued in February this year
 
Chief Executive Officer Richard Glynn reported:
 
“In Q1 we delivered all of our stated operational targets on track or ahead of plan and our financial performance remains consistent with our expectations at the time of our annual results announcement in February.
 
“Retail competed well demonstrating its continued appeal to the customer. In particular, it was pleasing to see OTC staking grow, driven by a strong performance in football.
 
"In Digital, the early encouraging customer response to our more competitive mobile and sportsbook offer has continued and our Grand National performance, particularly on mobile, shows that our product and platform improvements are starting to gain traction.
 
"The unexpected recent tax increases and ongoing uncertainty surrounding regulation are unwelcome.  We continue to advocate an evidence-based debate and to demonstrate our commitment to social responsibility. 
 
"The significant economic impact of excessive regulation on the business and in terms of jobs, is clear.  However, we are heartened by the strong support we have received from customers who continue to enjoy using our products, with one million people recently signing an industry petition in support of their local betting shop.
 
"Looking ahead, the build up to the World Cup will see heightened competition.  We are now in position to compete hard, targeting customers through our brand and improved products along with aggressive but sensible offers and promotions.
 
"In Digital, with the move to IMS and single wallet capability, we now have in place all of the operational infrastructure from which to drive growth in H2 and beyond.”



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$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

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

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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.

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