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Sportech PLC VAT Claim Postponed
Monday November 2,2015 : SPORTECH VAT CLAIM APPEAL POSTPONED (update)
Lack of Judicial availability
Sportech PLC’s long-running GBP 97 million VAT claim appeal regarding its “Spot the Ball” game has been delayed “due to a lack of judicial availability”.
The Court of Appeal will schedule a new hearing date.
INTERTAIN ENJOYS STRONG THIRD QUARTER
Substantial organic growth.
Online gaming firm Intertain Group delivered robust third quarter results across all four of its online businesses this week.
Key performance indicators for the three month period ending September 30, 2015 include:
- Group revenue of CAD 119.5 million (Q3/2014: CAD 13.7 million).
- EBITDA of CAD 43.7 million.
- Generated CAD 41.5 Million in operating cash flows used to pay down debt and fund earn-outs representing an adjusted EBITDA conversion rate of 94 percent.
- Used operating cash flow generated during Q3 and cash on hand to repay CAD 10.6 million in senior term debt; purchase for cancellation 972,712 shares for $11.4 million; and set aside CAD 18.2 million to fund the earn-out associated with the Jackpotjoy business.
- Revenues from Intertain’s Jackpotjoy business amounted to GBP 40.7 million, up 21 percent (Q3/2014: GBP 33.6 million).
- The Vera&John business generated revenues of Euro 12.2 million, again up 21 percent over the same period 2014 (Q3/2014: Euro 10.1 million).
- Mandalay generated revenues of GBP 5.4 million for the quarter compared with GBP 4.7 million in Q3 2014, representing 15 percent growth.
- InterCasino generated revenues of USD 6.2 million, 9 percent up on Q3/2014’s USD 5.7 million.
“Q3 was the first full quarter of operations for Intertain with all four of our business segments working together to demonstrate the cash flow power of our combined company,” commented John Kennedy FitzGerald, President and CEO of Intertain.
“We continue to see substantial organic growth as we leverage our corporate and operating level management teams’ expertise to optimize the performance of our business.”
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NBA Odds: Resurgent Clippers Face Warriors in Oakland -
After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.
PokerStars.CZ has launched in the Czech Republic -
PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.
Sunbets to Sponsor Sutton United -
Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.
Time is Money Slot Launches -
Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.
ArenaCube Signs 3 New Deals -
Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kiron’s virtual content.
First Woman to Win a WPT Playground Championship -
Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.
NHL Odds: Oilers-Blackhawks at the United Cente -
Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.
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