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LOSSES REDUCED AT SPORTINGBET

Andrew McIver, chief executive of the online gambling group Sportingbet.com said this week that he was "cautiously optimistic" following the release of positive full year results for the company which included a rise in net gaming revenues of 23 percent to an impressive GBP 147 million over the last six months of the year.
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The company - which offers online sports betting, gambling and poker - reported that sports betting performance in Europe (43 percent up) and Australia (54 percent up) in particular had made a major contribution to the successful year. Sports betting represented 61 percent of the group's income, up from 52 percent last year. 
 
Performance in the emerging Eastern European markets, with the key regions Poland, Hungary, the Czech Republic and Bulgaria saw growth increase by an aggregate of 79 percent year-on-year, to generate 13 percent of group NGR. Investment in the Latin American market also saw Sportingbet expand business in the region, with Brazil as the focal point.
 
McIver told investors that Sportingbet has now completed its restructuring, resulting in an improved operating profit margin of 15.4 percent, and although it still made a loss in total of GBP 1.2 million, this is radically less than last year, when the firm lost GBP 33.6 million as it struggled with the loss of the American market through the UIGEA.
 
The completion of the group's restructuring had resulted in a more than three-fold increase in adjusted operating profit which left it well positioned to capitalise on the strong position it had made in its markets, McIver said.
 
He added: "The new financial year has started well with net gaming revenue growth in excess of 30 percent in the first two months." 
 
Sportingbet expects the imminent launch of its new live sports streaming on its websites, together with other new product launches to drive further customer yields and retention throughout the year. The company also revealed that the second of its two employees detained by the Turkish authorities earlier this year  has been released, although he will have to return to Turkey for trial, provisionally set for 26 January 2009, on charges yet to be itemised. The other vacationing Sportingbet employee who was detained by the Turks was released in July without charge and allowed return to the UK.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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