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Weak Performance for Italian Gambling

Wednesday March 27,2013 : ITALIAN GAMBLING GIANT BATTLES IN 2012
 
SNAI turns in a weak performance...but online business delivered better revenues
 
Reports earlier this week that the CEO of Italian gambling giant SNAI, Stefano Bartoli, was on his way out in an amicable departure may have been rooted in the group’s poor 2012 FY performance under his command.
 
The company's just-released 2012 results make for dismal reading, showing:
 
* Increased losses of Euro 42.6 million (2011: Euro 40.5 m illion loss)
 
* Group revenues down almost 8 percent at Euro 514.4 million
 
* Earnings off 34 percent at Euro 64.5 million
 
* Debt increased by Euro 15.2 million, bring total debt burden to Euro 369.6 million
 
Bortoli's team blamed the weak performance on a VLT screw-up that cost the company dearly in business and fines from the regulator; worse than expected sports betting and horse racing revenues; and higher pay-outs to punters.
 
The introduction of online slots into the Italian dedicated market, along with a positive player reaction to SNAI's launch of its Playoo mobile app enabled the online operations of the company to boost revenues by 16.7 percent to Euro 5.6 billion in one of the few bright spots of the results.



Gambling News :

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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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