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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 :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

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.

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