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Q3 PERFORMANCE RELEASED BY SPORTINGBET
Wednesday May 30, 2012 : Q3 PERFORMANCE RELEASED BY SPORTINGBET
Aussie business accounts for 90 percent of profits
The UK publicly listed online gambling group Sportingbet plc released its Q3 numbers ended April 30 Wednesday, showing:
* Amounts wagered up at GBP 555.9 million (Q3 2011: GBP 507.3 million)
* Net gaming revenue down at GBP 43.4 million (Q3 2011: GBP 54.7 million) 52 percent of NGR was generated from regulated territories and a further 24 percent came from territories where the group is paying tax ahead of expected regulation.
* EBITDA down at GBP 10.8 million (Q3 2011: GBP 16.1 million)
* Net cash down at GBP 24.8 million (Q3 2011: GBP 31.4 million
The Australian companies delivered soaring amounts wagered, up 78 percent to GBP 369.1 million, with NGR up 116 percent to GBP 18.1 million. Mobile alone accounted for 34 percent of NGR in April.
In Europe and emerging markets the story was less encouraging, with amounts wagered down 38 percent to GBP 186.8 million, and NGR down 47 percent to GBP 24.2 million.
The business was impacted by the Codere injunction, which halted Spanish operations from 27 March 2012, but a Spanish licence is expected early June 2012 followed by the anticipated lifting of the injunction.
Annualised fixed costs were reduced by GBP 15 million, the company achieved margins of 10.1 percent on in-play betting, and mobile player numbers grew by 150 percent.
Group chief executive Andrew McIver said: ''Our Australian business, which accounts for over 90 percent of our profits, continues to go from strength to strength. The integration of Centrebet is nearly complete and our combined Australian business grew NGR by 116 percent in the quarter.
"Europe continues to be impacted by the recession and the effects of regulation. As we have demonstrated in Australia, the long term benefits of regulation are clear but take time to manifest themselves.''
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.
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.<
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