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UC Gambling Group 2010 outlook
1/5/10 - The UK newspaper The Daily Telegraph reports that pre-tax profits at UC Group fell to GBP 218 221 in 2008, down from GBP 2.42 million a year earlier following a 30 percent fall in revenues. But prospects for 2010 are looking a little more promising.
UC Group specialises in providing gaming companies with online payment services such as anti-money laundering measures and the group's profits were skewed last year by its decision to pull out of business outside of that core market, as well as sizeable asset write-backs in 2007, the newspaper reports.
The company has been active in US political lobbying on behalf of the online gambling industry, and according to US government records spent $1.48 million in 2009 promoting a liberalisation of gambling legislation.
UC Group acts for 10 gaming companies, offering back-office and anti-money laundering operations and hopes to profit from any opening of the US market. The group has worked to promote Senator Barney Frank's efforts to overturn the ban on online gaming in the US.
"The USA remains core to our ambitions and every effort is being made to harness the potential commercial opportunity this will present," CEO Kobus Paulsen said recently.
Former Labour government minister David Blunkett joined the company in January 2009 and UC Group will hope his influence will help boost its financial performance, the newspaper observes.
UC's chief executive said in a recent note to shareholders in the company's annual report that core profits had risen 39 percent on the back of a 24 percent increase in the number of transactions processed. He forecast the same rate of growth in 2009 and said the company was in discussion about "various acquisitions".
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
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.
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