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Unibet second quarter profits double

Online sportsbetting company Unibet plc has enjoyed a bumper second quarter thanks to in-game betting and the Euro 2008 football action, the management disclosed this week, highlighting doubled profits. In-game (live) betting accounted for 23 percent of Q.2 gross win revenue for the firm's sportsbook.
 
Net income rose to GBP 3.55 million, up from GBP 1.61 million in the same period last year, as winnings from sports bets jumped by almost nine-tenths and sales set new records during the month-long soccer championship, whilst additional revenues flowed from the Maria Bingo website, purchased last December (see previous InfoPowa reports).
 
"With the European championship as a highlight, we reached a new record in active customers,'' CEO Petter Nylander noted.
 
However, looking at the half year to date picture, currency exchange costs on the Euro 100 million bond arranging by Unibet to buy Maria Bingo proved to have an expensive impact on results, costing the firm almost half its pre-tax profits. Unibet’s pre-tax profits for the first half of the year amounted to GBP 6.9 million (GBP 10.5 million in H1 2007). That figure would have risen to GBP12.7 million without the currency exchange loss of GBP 5.8 million the company had to take on the bond during the period.
 
The company’s gross win revenue rose to GBP 59.2 million during the period (GBP 37.6 million last time), and quarterly sports margins excluding in-running betting and bonuses rose to 7 percent from 5.4 percent over the same period last year. 
 
Q2 gross win came to GBP 9.6 million, compared with GBP 5 million last year, and over the half year reached GBP 21.4 million (H1 2007: GBP 14.7 million).
 
On the non-sports betting front gross winnings reached GBP 19.5 million (Q2 2007: GBP12.2 million) and GBP 40.3 million for the half year (H1 2007: GBP 25 million). Online poker and casino operations  made up 31 percent and 53 percent respectively of non-sports betting winnings during the second quarter.
  
Unibet's customer base jumped almost 10 percent over Q1 2008, making a total of 316 780 registered players on the company's books.
 
The company took the opportunity to announce an agreement to buy online sports-media company Guildhall Media Invest Ltd. for Euros 150 000 in cash, assuming Euro 4.2 million in debts as part of the deal.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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