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Zeal Network has tripled EBIT in the first half of 2015
Monday August 17,2015 : ZEAL NETWORK TRIPLES EBIT IN LATEST RESULTS
Future looks bright, says CEO
ZEAL Network (formerly Tipp24) has tripled EBIT in the first half of 2015 but said revenue was impacted by a single high jackpot payout of Euro 47.9 million.
According to ZEAL, the implementation of the UK POC tax regime has had a positive impact allowing it to capitalise on a significant decrease in operating expenses mainly driven by a decrease in the gaming duty due to HM Treasury.
Other key performance highlights for HY1/2015 include:
- EBIT increased from Euro 6.0 million to Euro 18.5 million.
- Net profit of Euro 12.7 million (HY1/2014: Euro 1.5 million).
- A decline in consolidated revenue from Euro 68.2 million to Euro 25.7 million, reflecting the high prize pay-out. “The negative revenue effect was partly offset by a payment receivable from the hedging structure amounting to EUR 38.3 million”.
- Second interim dividend of Euro 0.70 was paid out at the end of June.
“We have delivered strong earnings growth in the first half of the year and are on track to achieving our full-year targets,” said Dr Helmut Becker, designated Chief Executive Officer of ZEAL. “The company is well-positioned for further success while we continue to execute on our growth initiatives".
ZEAL expects a full year operating performance in the range of Euro 135 to 145 million and consolidated EBIT between Euro 35 and 45 million.
In related news, Dr Helmut Becker will officially assume the role of chief executive officer on September 1, 2015 while Susan Standiford was appointed as chief technology officer.
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.
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.<
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