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SPORTINGBET QUARTERLY PROFITS UP 143 PERCENT

The UK online gambling group Sportingbet reported a rise in Q3 operating profits of 143 percent this week, with company management confident of meeting full year expectations despite Turkish legal challenges and the international credit squeeze.
 
The company took the opportunity to update the market on the fate of two employees arrested last week  in Turkey, confirming that they remain in custody with very little information flowing from the Turkish authorities. The group has

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appointed lawyers to safeguard the interests of the two. The company continues to take Turkish bets.
 
CEO Andrew McIver commented that online gaming was apparently not specifically mentioned in Turkish court proceedings on the arrests, "...but we are none the wiser. It's had absolutely zero impact on our operations in the area. It's just unbelievably unfortunate for the employees in question.''
 
Group Q3 operating profit rose to GBP 7.3 million from GBP 3 million last time, and to GBP 19 million for the 9 month period to date compared with GBP 7 million last year. Revenues rose 25 percent to GBP 365 million in the three month Q3 period. Net income was GBP 3.4 million pounds in the three months through April, compared with a loss of GBP 62.4 million a year earlier.
 
The company statement reported that May's trading volumes have continued in line with recent trends in both Europe and Australia.
 
In Europe, sports margin has been below long term annual averages due to the run of sports results falling more in favour of the customer. In Australia, the business has experienced good betting volumes supported by a favourable sports margin.
 
The group said that it anticipates significant betting volumes from the Euro 2008 football championships but cautioned that the predictable nature of such tournaments can often result in low returns to the bookmaker.
 
Lost US business due to the UIGEA-enforced departure from that market has been largely offset by more business in Europe And Asia as the company builds on its objective of geographic diversification.
 
Third-quarter sports bets by European customers gained 27 percent to GBP198 million, the statement shows. Australian gamblers wagered GBP 152 million, up 26 percent. Betting on sports events constitutes nine-tenths of Sportingbet revenues.
 
UK online operators including Sportingbet, 888.com and PartyGaming plc began talks with the U.S. Department of Justice last year as concern spread about possible legal action against companies that took bets from Americans pre-UIGEA. McIver commented that nothing concrete has yet evolved, saying: "It's their timetable. Talks are very amicable and constructive, but where they might end up, I don't know.''
 
The US market constituted some 65 percent of Sportingbet's business when the company exited this market in late 2006, and this has influenced its strategy of diversification with a preferred goal of no more than 20 percent of business from any one country.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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