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Mybet Posts Weak Q1-2014 Results
Thursday May 15,2014 : WEAK FIRST QUARTER FROM MYBET
Sports betting eases the pain as online poker and casino action declines.
Online gambling operator MyBet Holdings has posted a set of weak Q1-2014 results with revenues 8 percent down on the same period last year.
However, a 1.2 percent increase in sports betting to Euro 10.7 million helped to reduce the impact of poor online casino and poker results, where revenues dived 16.5 percent to Euro 5.5 million.
Horse racing operations provided further relief, with revenues up 35.8 percent to Euro 1.4 million.
Overall revenues retreated 8 percent to Euro 17.9 million in the quarter; in Q1-2013 the company reported revenues of Euro 19.5 million.
EBITDA grew 9.9 percent to Euro 885,000, but management warned that the coming second quarter is traditionally quiet and results may again be subdued, although it is likely that annual targets will be met.
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IS DAN BILZERIAN A POKER FISH? -
Dan Bilzerian, the high profile Instagram legend, jet setting playboy and allegedly deadly online poker player who claims he accrued a $50 million fortune playing the game,
AMAYA C.F.O. RETIRES -
Daniel Sebag, the Amaya online gambling group's first and only chief financial officer with ten years’ service under his belt, has retired, according to a company announcement Friday.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
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