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Sportingbet Revenue Up Profits Down
27 percent boost to revenues, but net profit plunges 69 percent The UK internet gambling group Sportingbet.com released its annual financial numbers this week for the year ended July 31, reporting a 27 percent increase in revenues, but a slide in net profit of 69 percent.
Nevertheless, the report boosted share prices by over 3 percent.
Financial stats published by the group showed that net profit fell 69 percent to GBP 3.9 million despite revenue rising by 27 percent to GBP 207.5 million. Management attributed the fall in profit to a jump in one-off costs, including a settlement with the U.S. Department of Justice on pre-UIGEA activities in the United States.
The company said the amount wagered on its web sites rose 25 percent to GBP 1.97 billion, and adjusted operating profit rose 14 percent to GBP 35.4 million.
"The new financial year has started well with net gaming revenue for the first two months up 17 percent on the same period last year,” said CEO Andrew McIver. “Whilst the economic outlook remains challenging, our spread of activities across the different economic cycles of Europe, Australia and South America gives us confidence for a year of further success."
Gambling News :
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.
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.
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.
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.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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