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Italian Gambling: Microgame spa earnings increase

Italian online gambling group Microgame SpA has reported an astonishing increase in gross profit of 456 percent on turnover growth of 12 percent to Euro 490 million for the full year ended December 31st 2008.
Gross profits reached Euro 85 million - up 456 percent on its 2007 number of Euro 15 million. Net profit of Euro 4.7 million was posted, up from 2007's Euro 3.1 million, with gross operating margin reaching Euro Pokerstars7.6 million, up 42 percent on 2007's Euro 5.4 million
Management said that the success was attributable to a 2008 expansion program which saw the Italian company complement sportsbetting operations with the addition of skill, poker and bingo gaming, after signing agreements with Austrian skill games company Funworld and Canadian bingo software developer Parlay Entertainment.
Company president Fabrizio D’Aloia said: “The new games and in particular the poker have generated a remarkable increase in revenues. In fact the poker has in only four months from its start in September 2008 exceeded the turnover generated by the fixed-odds bets.”
Microgame's gaming accounts rose by 61 percent to 938 000, D’Aloia revealed, confidently expecting that the game would become Microgame's biggest product for FY 2009, when combined with the company's multi-operator “People’s Network” for skill games and poker. Further new games will be added over the 2009-2010 period, he said.
The Italian company's momentum appears to have continued into Q1 2009, with revenues of Euro 6.3 million - up 138 percent on Q1:2008 and gaming turnover of Euro 230 million, or 85.5 percent up on Q1:2008.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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