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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 :
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
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