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HAS LEISURE AND GAMING TURNED THE CORNER

 
The UK-listed online gaming and sportsbetting firm Leisure and Gaming has been through some tough times since the loss of the US market due to the UIGEA, but numbers released this week indicate that the company may be turning the corner to a more positive future.
 
The company announced an operating profit of $2.06 million for the first six months of 2008 after posting a loss of the same amount for the comparative period in 2007.
 
Although the London-based firm experienced a decrease in wagering to $60.82 million from last year’s $96.29 million, and net win dropped to $16.93 million from 2007’s $20.46 million, its net win margins increased to 27.8 percent from 21.3 percent, driving up gross profits to $5 million from last year’s $1.76 million.
 
In addition, the gross profit percentage grew from last year’s 1.8 percent to 8.2 percent while overheads decreased to $2.94 million from $3.82 million.
 
“Results for the first half are marginally ahead of expectations and we are currently on track to meet the full-year forecasts,” said Richard Creed, Chief Executive Officer. “We now have a solid base established, which will provide us with a platform to drive profitable growth going forward allowing us to diversify geographically, drive online performance and provide additional products."
 
For the six months ending in June, Leisure and Gaming amounts wagered for sportsbetting came in at $55.07 million, down considerably on last year’s $83.79 million, and generated a net win of $14.72 million - lower than last year’s $16.05 million, at a net win percentage of 26.7 percent.
 
Casino products contributed $27.54 million in plays, down on last year’s $50.52 million, and generated a net win of $883 877, a decrease from last year’s $1.62 million.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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