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SPORTECH TRADING UPDATE
Wednesday May 23, 2012 : SPORTECH TRADING UPDATE
Internet gaming gross win revenue up 30 percent Y-O-Y
Roger Withers, chairman of Pool and tote betting firm Sportech, announced steady progress in a trading update delivered at a shareholders meeting this week.
Reporting a strong start to the company's fiscal year in e-gaming, with gross win revenue up over 30 percent year-on-year, Sportech's North American business Sportech Racing has delivered a 4.5 percent increase in turnover to date compared to the same time last year.
Net bank debt in the four months to April 30 was cut by GBP 4.2 million to GBP 55 million, following a GBP 13 million reduction last year.
“The group remains highly cash generative and continues to focus on debt reduction while investing in selective business opportunities,” commented Withers.
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Gambling News :
FanDuel adds English Premier League action -
Daily fantasy sports operator FanDuel, which is now additionally active in the UK market, has announced the inclusion on its roster of English Premier League action, with associated contests scheduled for roll-out next week.
Coral Q4-2016 earnings reports -
Ahead of its forthcoming merge with Ladbrokes, the online and land gambling group Coral published its Q4-2016 financial numbers Thursday, detailing the twelve week period ended September 25 2016.
Unibet in cooperation with -
Online gambling operator Unibet Group has signed a cooperation agreement with the FIFA subsidiary Early Warning System GmbH (EWS).
Kiron Interactive in deal with Digitain -
The online gambling expo and conference EiG 2016 has enabled two online gambling companies to come together in a commercial deal; specialist virtual games supplier Kiron Interactive has inked an agreement to distribute its virtual games via Armenia’s Digitain.
GLOBAL SPORTS BETTING WORTH $253.3 BILLION BY 2020 -
Ujjwal Doshi, lead analyst at the research firm, says, “Low-cost cross-border service delivery is opening up sports betting markets, which were previously protected by state-regulated monopolies or dominant local operators.”
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