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Gambling: Unibet annual general meeting

The Swedish and UK online gambling giant Unibet plc will be holding its annual general meeting on 13 May 2009, with management presenting some positive numbers, although the Euro-bond debt continues to be a drain on resources.
 
Fugures released by the group in February in respect of the financial year ending December 31 2009 highlighted:
 
* Gross Winnings Revenue of GBP 34.9 (24.5m in 2007) million for the fourth quarter of 2008 and GBP 123.4 (81.4) million - up 52 percent - for the full year 2008.
 
* Profit from operations of GBP 12.8 (3.7m in 2007) million for the fourth quarter of 2008 and GBP 36.5 (21.4m in 2007) million - up 71 percent - for the full year 2008.

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* Result before tax for the fourth quarter of 2008 amounted to GBP -0.3 (2.7) million. Profit before tax for full year 2008 amounted to GBP 11.1 (20.0) million.
 
* Result before tax for the fourth quarter was affected by a foreign exchange loss on the euro-denominated corporate bond of GBP 11.8 (1.2) million, of which GBP 10.2 (1.2) remains unrealised. For the full year 2008 the exchange loss on the bond was GBP 17.9 (1.2) million, of which GBP 15.1 (1.2) million is unrealised.
 
* Result after tax for the fourth quarter of 2008 amounted to GBP -0.9 (2.3) million. Profit after tax for the full year 2008 amounted to GBP 8.8 (18.7) million.
 
* Operating cash flow before movements in working capital amounted to GBP 15.2 (5.1) million for the fourth quarter 2008 and GBP 46.8 (26.2) million (+79%) for the full year 2008.
 
* Number of active customers at the end of the fourth quarter was down at 292 168 (309 431).
 
* The Board of Directors has proposed a dividend of GBP 0.23 (0.50) per share/SDR, which is approximately SEK 2.75 (6.00) per share/SDR and amounts to a proposed distribution to shareholders of GBP 6.4 (14.0) million.
 
The management report stressed that the company continued to enjoy a strong cash flow and a healthy profit from operations.
 
"Our well balanced product portfolio and customer offering has resulted in growth in gross winnings of over 50 percent and growth in profit from operations of over 70 per cent year on year," management revealed.
 
“The focus on cost control and the investment cycle over the last two years coming to an end has resulted in higher margins and a drop in capital expenditure of 34 percent, and our strong business model has delivered an increase in adjusted operating cash flow of over 170 percent year on year."
 
Commenting on the start of the new financial year, the management team said that the first six weeks of 2009 had continued to deliver a healthy growth in business.
 
“This is why we reiterate that given the growth in the online gambling market it is difficult to determine what impact the actual financial situation in the world has on our business model,” said Unibet CEO Petter Nylander.



Gambling News :

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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