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Webis Group turnover up 35 percent in sports betting

The UK listed betting group Webis Holdings plc, has released its financials for the period ended 30 November 2008.
Key highlights in the numbers include:
* Group turnover increased by 35 percent to GBP 71.5 million (2007: GBP 53.0 million)

Cocoa Casino* Sportsbook (Betinternet) turnover increased by 44 percent to GBP 56.4 million (2007: GBP 39.0 million)
* Pari-mutuel turnover increased by 8 percent to GBP 15.1 million (2007: GBP 14.0 million)
* Gross profit increased by 34 percent to GBP 1.701 million (2007: GBP 1.272 million), gross margin consistent with prior period at 2.38 percent
* Significant increase in EBITDA to GBP 381 000 (2007: GBP 43 000)
* Operating profit of GBP 256 000 (2007: operating loss of -GBP44 000)
Commenting on the results, Webis chairman Denham Eke said: "Since my statement at our recent AGM, it is pleasing to report that the Company has made good progress during the second quarter of the current financial year and these results represent a substantial turnaround in the Company's performance.
"The board's strategy of focussing on marketing initiatives and the ongoing development of the Company's IT systems and website in tandem with capital expenditure, where appropriate, is beginning to reap rewards. The board is optimistic about the Company's future prospects and I look forward to providing an update on further progress in due course."

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Gambling News :

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

Why is FullFlush Poker Still Down - Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.

Time Running Our For Pennsylvanian online gambling - Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

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