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Bad 4th Quarter for L and G
From http://www.recentpoker.com - Q4 2009 results posted this week by the Leisure and Gaming plc group show plunging revenues in casino and sports betting ameliorated by good poker results, especially in the Italian market.
Figures to end December last year show revenues from casino products dived by almost 70 percent to Euro 4.5 million, from Euro 14.7 million in 2008, generating a net win reduced by a third to Euro 200 000, from Euro 300 000 last time. The dismal performance was attributed to the closure of Acropolis casino, a move to poker and a change of casino provider in Greece.
Sports betting revenues similarly plunged, declining 14 percent to Euro 19.4 million (2008: Euro 22.4 million) and delivering a net win of Euro 4.3 million, down Euro 600 000 from the 2008 equivalent. Lotto and skill games were also down 30 percent to Euro 700 000, generating a net win 50 percent down at Euro 200 000.
Poker reversed the downward trend, delivering an increase in tournament fees some five times greater than last time to Euro 14.7 million, (2008: Euro 2.7 million) on which rake of Euro 2 million was earened - four times greater than the same period last year.
"Poker activity in Italy has increased and now contributes 30 percent of net win, with weekly tournament fees of Euro1.1 million," said chief executive Richard Creed. "The adverse weather in late December resulted in a disruption in the matches played which led to a smaller fixture list causing reduced volumes and margins."
Other income from advertising dipped to Euro 500 000, a drop of Euro 100 000 from last year.
Gross profit earned was Euro 1.8 million - Euro 100 000 lower than in 2008.
Although the group recovered Euro 600 000 in license guarantees, this was largely spent on other operational imperatives. "In the light of this expenditure and possible further guarantees being required for casino games coupled with continued software development, the Group is unlikely to declare a dividend for 2009,” a company statement warned.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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