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Greek Gambling Monopoly Earnings
The Greek OPAP company, which has a contentious state monopoly in the country's gambling industry, has posted a positive Q1 2009, with revenues and net profits both up.
Revenues in the period grew 6 percent over Q1 2008 to Euro 1.46 billion, whilst net profit year-on-year rose 3.5 percent to Euros 215.7 million. The company reported EBITDA down .09 percent at Euros 299.5 million as a result of higher distribution costs. Declining Stihima revenues re sulted in a fall in sportsbetting revenues of 8.4 percent.
Christos D. Hadjiemmanuil, OPAP’s chairman and chief executive, commented: "The weakness in our Q1 sports betting results relative to the same period in 2008 is explicable by a very dissimilar seasonal pattern of sports events; we expect a partial correction in April and May.
"Moreover, the rejuvenation of our numerical games has contributed to their improved performance in the early months of the year, making us optimistic that we will achieve our profitability target for 2009," he added.
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Gambling News :
Tain Fast Bet -
Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.
Olympic Entertainment Group Mobile Gaming -
In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.
Circus Evolution HD Slot -
Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.
17 Crown people still detained -
Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on
SB1400 Virginia Poker Skill Game Bill -
Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.
Pennsylvania Video Gaming Association -
With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.
Stiffer Problem Gambling Penalties in UK -
The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.
Spartan Poker vs SpartanPoker name War -
Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.
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