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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.



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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