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Weather Lottery Losses Adding Up
01/05/2012 : Pre-tax losses now top GBP 789 000
The UK-based The Weather Lottery plc's venture into online gambling appears to be getting into ever-deeper water, with the latest update from the company showcasing widening losses.
The company posted a pre-tax loss of just over GBP 789,000 for the year to the end of July - up from GBP 77,000 in the comparative period in 2010. This was despite turnover being slightly higher at GBP 1,343,000 (2010: GBP 1,231,000).
TWL has been drastically cutting costs and hopes to offload its faltering FCBetz.com subsidiary, which was responsible for GBP 400 000 of the latest losses, and remains optimistic that trading will improve going into 2012.
Chairman Lord Razzall said: "As the results show this has been a difficult year for TWL, not all of which can be attributed to the hard economic climate in the leisure sector."
During 2011 the company suffered a serious setback when former director Keith Millhench defrauded it of a large amount of money, necessitating legal costs in bringing him to justice and taking confiscatory measures against the disgraced director and his accomplice, a company employee.
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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