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Leisure and Gaming Earnings
10/14/09 - The Leisure and Gaming plc offline and online gambling group has posted another positive quarter, heartening investors after some difficult times.
The company announced this week that amounts wagered had more than doubled to Euro 27 million (2008 Q3: Euro 13.3 million), and that EBITDA had at last turned positive at Euro 100 000.
Sportsbetting was the star when it came to a breakdown of quarter 3 contributions, bringing in wagers worth Euro 16.4 million (Q3 2008: Euro 12.7 million) - a 29 percent improvement that generated a net win up 8 percent at Euro 2.8 million. The company experienced the same problems as other bookie firms - lower sports margins as a result of a string of favourites winning.
The news was less pleasing on the casino products, where amounts wagered plunged over 30 percent to Euro 3.8 million, generating anet win of only Euro 200 000, or half that of the comparable quarter in 2008. The company also reported a slide in amounts wagered on lotteries and skill games, which came in at Euro 500 000 (Q3 2008: Euro 600 000) with net win at Euro 100 000, again half that of the preceding year's third quarter.
Poker delivered a positive performance, providing Euro 10.3 million worth of business from which the overall net win went up 44 percent to Euro 4.6 million.
Chief executive officer Richard Creed commented that the third quarter was traditionally a quiet period in the industry, but that the company had in any case improved on last year's performance as it diversified in both geographic effort and products. He said that business volumes had been excellent, with active customer numbers at a record high.
“The fourth quarter is the busiest of the year and we start the season with an expanded number of partners. Poker activity through July and August, which is a quiet business period, was encouraging with volumes remaining high, providing a reliable contribution to profits. This trend has continued in September,” Creed observed, anticipating a brisk fourth quarter.
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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