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SPORTINGBET REPORTS NET LOSS DUE TO EXCEPTIONAL COSTS

Wednesday, October 3, 2012 : SPORTINGBET REPORTS NET LOSS DUE TO EXCEPTIONAL COSTS
 
Optimistic outlook despite challenging economic conditions
 
Sportingbet Plc, the subject of acquisition interest from William Hill and GVC, has reported its full year audited results for its fiscal year ending July 31, 2012.
 
Despite delivering a net loss attributed to its Spanish tax settlement, Centrebet acquisition and integration expenses along with costs associated with its Turkish disposal, the Company reported strong results from its Australian operations with performance from Centrebet described as outperforming expectations.
 
Its Aussie mobile platform is proving popular, up 339 percent and now accounts for 28 percent of Sportingbet's revenue and 40 percent of its registered players.
 
Key Fiscal Highlights include:
 
-     Amounts wagered of GBP 2 349.2 Million (2011: GBP 2 053.9 Million)
 
-     Core total revenue of GBP 188.9 Million (2011: GBP 206.3 Million)
 
-     EBITDA* GBP 56.8 Million (2011: GBP 51.4 Million)
 
-     Adjusted operating profit* of GBP 32.2 Million (2011: GBP38.1 Million)
 
-     Operating loss of GBP 39.1 Million (2011: Profit of GBP 24.4 Million)
 
Key operational highlights include:
 
Group
 
-     Amounts wagered up 14 percent
 
-     80 percent of revenue during the year derived from regulated and/or taxed territories
 
-     Centrebet acquisition completed August 31, 2011
 
-     Disposal of Turkish language website completed on November 27, 2011
 
 
Australia
 
-     Australia's leading fixed odds internet and phone bookmaker by amounts wagered
 
-     Amounts wagered online up 82 percent (like for like up 11 percent)
 
-     Integration of Centrebet successfully completed with realised synergies of GBP 15 million, pa GBP 5.2 million higher than originally planned
 
-     New mobile apps for both brands and new Centrebet website launched in June
 
-     Amounts wagered on mobile up 339 percent now accounting for 28 percent of revenue and 40 percent of players
 
 
Europe and Emerging Markets
 
-           Amounts wagered down 30 percent (like for like down 9 percent)
 
-           In-play continues to produce industry leading margins of 9.7 percent
 
-           New in-play Console launched offering enhanced user experience
 
-           Mobile penetration in UK and Spain now up to 30 percent
 
-           Spanish, Danish, Maltese, Italian licences obtained
 
-           Betting taxes rose by a net GBP 9.4 million
 
-           European cost base reduced with GBP 15 million annualised costs removed
 
 *          Adjusted to exclude exceptional items of GBP 71.6 million (2011: GBP 10.8 million), share option charge and amortisation of other intangible assets
 
Andrew McIver, Group Chief Executive, commented on the results:
 
"The Group has had a solid start to the new financial year in line with our expectations. We are confident that the increased advertising opportunities, improved payment processing and stable business platform provided by our regulated market presence will drive profitable growth in the medium term.
 
“Whilst the economic outlook remains challenging, our robust position across a variety of attractive territories gives us confidence in the outlook for the current financial year."



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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