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SPORTINGBET ISSUES TRADING UPDATE
Wednesday August 8,2012 : SPORTINGBET ISSUES TRADING UPDATE
Management expects to meet full year forecast, but the European market remains a challenge
The UK online gambling group Sportingbet plc issued a trading update for its fourth quarter ended July 31 Wednesday, advising that the trends experienced during the previous nine months have continued into the final quarter, and the directors expect the full-year results to be in-line with market forecasts.
"Our Australian business continues to perform strongly with NGR (pre-tax and bonus) up 93 percent year on year (up 24 percent on a like for like basis) a statement from the company noted.
"The integration of Sportingbet Australia with the recently acquired Centrebet was successfully completed during June, one month ahead of schedule.
"Additionally, the level of synergies realised is significantly ahead of our original expectations. The enlarged business is the clear market leader in Australian fixed odds online sports betting and currently represents a substantial majority of the Group's EBITDA."
Management observed that the group's European business continued to face challenging economic conditions combined with the disruptive impact of newly regulating countries and associated taxation.
"Additionally, our largest European market, Spain, was closed for the first 35 days of the quarter until the licensed market launched on 5 June. As a result, European NGR declined by 41 percent year on year (like for like down 18 percent). The restructuring of the European business following the disposal of the Turkish language website has been completed."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
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