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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.
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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