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The Weather Lottery Losses Mount
Tuesday December 6,2011 : T.W.L. LOSSES MOUNT
Online gambling company anticipates pre-tax losses of GBP 740,000 for the year to the end of July.
The troubled The Weather Lottery online gambling company's losses just keep mounting, with the latest numbers anticipating pre-tax losses of GBP 740,000 for the year to the end of July following a first half loss of GBP 321,000 and full year losses of GBP 77,000 last time.
The company's difficulties have resulted in it postponing the upgrade to its five-a-side facility at the Harvey Hadden Sports Complex in Nottingham.
Management reports that losses at FC Betz.com amounting to GBP 267,000 in the first half year, including expensed sponsorship costs of GBP 177,000 and operating losses of GBP 90,000, were reduced in the second half and are now expected to amount to approximately GBP 400,000 for the full year, with club sponsorship expenses now eliminated and consultancy costs significantly reduced.
The company has continued to operate the site but at a much reduced level at a break-even or small loss level month on month. After all the enthusiasm over FC Betz, the board does not now consider it to be part of the future of the business and is seeking ways to dispose of it and its assets and database as soon as possible.
The core lottery business is expected to report a small profit for the year, despite expenses relating to the fraud committed by former director Keith Millhench exceeding GBP 100,000 for the year.
The company's Devilfish Poker online poker subsidiary recorded losses for the period from December 2010 to the end of July, expected to be in the region of GBP 150,000.
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.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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