Online Casino Transfer: News - Sportingbet does Better than Most

03/15/2010		Online Casino Style: News Sportingbet Does Better than Most
Home History Games News Dictionary		While many internet casino companies have adjusted their fiscal year calendars to correspond nicely with the traditional calendar, one of the few that has not has released their quarter end results for their second period in the fiscal year. Also differing from the emerging trend in the online gambling world, Sportingbet was able to boast to their investors a solid three month period, reporting both increases in revenue, profits and new memberships. Growth overall managed to sum up to an overall pleasant report, with all of the highlights being published to the online gambling community. It seems that at least from Sportingbet customers, the amounts wagered continues to see increases, with there being a 26 percent growth tracked in their European market, and an impressive 54 percent growth in Australia. It went a long way in improving their second quarter profits, which were up 18 percent from the previous year. The company credited significant growth in the football betting division for their success in the three month period. One of the features that seems to be attracting more gamblers from competing online gambling websites is the in-play feature, that allows bettors to add and change their wagers while game play is in motion. The second quarter enjoyed record-breaking sign-ups for new customers, as well as active member activity. They expect to allow the winning streak to continue for the firm’s bottom line, as they just successfully completed the launch of their mobile gambling platform in Australia, bringing a range of betting products to gamblers down under via their mobile devices and telephones. Sportingbet was able to report their positive net cash accrual of £27.3 million, while their European sports gross margin grew up 10.7 percent. Last year’s net income of £7.9 million was improved upon, up to £9.3 million. And with all that extra money, improvements were made: the quarter’s focus was directly primarily at South America, but a worldwide football site was also added to the internet casino’s home page, available 24 hours a day. Net gaming revenue, EBITDA, operating profits and online poker all saw improvements in their statistics. “The second quarter is a busy time in the sporting calendar and consequently a material period in the Group’s financial year,” said Andrew McIver, the group’s CEO. “As such it is very pleasing to report results in line with our full year plan, particularly given the recessionary backdrop in many of our markets. Casino, games and poker continue trends seen in the first half of the year. Based both on this and the Group’s robust performance for the first six months, the Board continues to remain confident of the full year outcome.” Sportingbet intends to move from the AIM exchange to the London Stock market later in 2010.

03/15/2010

Online Casino Style: News
Sportingbet Does Better than Most

While many internet casino companies have adjusted their fiscal year calendars to correspond nicely with the traditional calendar, one of the few that has not has released their quarter end results for their second period in the fiscal year. Also differing from the emerging trend in the online gambling world, Sportingbet was able to boast to their investors a solid three month period, reporting both increases in revenue, profits and new memberships.

Growth overall managed to sum up to an overall pleasant report, with all of the highlights being published to the online gambling community. It seems that at least from Sportingbet customers, the amounts wagered continues to see increases, with there being a 26 percent growth tracked in their European market, and an impressive 54 percent growth in Australia. It went a long way in improving their second quarter profits, which were up 18 percent from the previous year. The company credited significant growth in the football betting division for their success in the three month period.

One of the features that seems to be attracting more gamblers from competing online gambling websites is the in-play feature, that allows bettors to add and change their wagers while game play is in motion. The second quarter enjoyed record-breaking sign-ups for new customers, as well as active member activity. They expect to allow the winning streak to continue for the firm’s bottom line, as they just successfully completed the launch of their mobile gambling platform in Australia, bringing a range of betting products to gamblers down under via their mobile devices and telephones.

Sportingbet was able to report their positive net cash accrual of £27.3 million, while their European sports gross margin grew up 10.7 percent. Last year’s net income of £7.9 million was improved upon, up to £9.3 million. And with all that extra money, improvements were made: the quarter’s focus was directly primarily at South America, but a worldwide football site was also added to the internet casino’s home page, available 24 hours a day. Net gaming revenue, EBITDA, operating profits and online poker all saw improvements in their statistics.

“The second quarter is a busy time in the sporting calendar and consequently a material period in the Group’s financial year,” said Andrew McIver, the group’s CEO. “As such it is very pleasing to report results in line with our full year plan, particularly given the recessionary backdrop in many of our markets. Casino, games and poker continue trends seen in the first half of the year. Based both on this and the Group’s robust performance for the first six months, the Board continues to remain confident of the full year outcome.” Sportingbet intends to move from the AIM exchange to the London Stock market later in 2010.