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Mybet Weak Earnings Report
Friday November 9, 2012 : MYBET WEAK MARGINS AFFECT REVENUE
But strong growth and a positive outlook
mybet Holding SE published its report on the first nine months of 2012 delivering strong growth but weak bookmaking margins which affected revenue.
Key performance highlights for the Group over the period include:
- Revenues of Euro 49.3 million, up 14.3 percent.
- EBIT was Euro 6.8 million with lottery divestment proceeds of Euro 7.7 million ergo the operating result was Euro -1.0 million.
- Total number of customers exceeded 1 million.
- Betting stakes rose 40 percent to Euro 136.3 million (9M/2011: Euro 15.6 million).
In a departure from its original plans, mybet financial performance was boosted by the end-customer paying the entire German gaming tax with 5 percent added to betting stakes since July 1, 2012.
The Company said it has experienced a strong start to the fourth quarter of 2012 which promises record betting stake levels and good margins. The imminent launch of its mybet app for iOS and Android platforms should further its full year fiscal goals.
Based on nine-month figures and continued progress in the fourth quarter, mybet said it expects revenue of between Euro 65 and 70 million for the 2012 fiscal year along with a positive EBIT.
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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.
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.
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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