Sweden’s Redbet Holding AB has reported gross gaming revenues of SEK16.5m (€1.75m) for the second quarter ended June 30th 2010, a fall of 35 per cent versus the same period last year, as the company continues to focus efforts on downsizing and restructuring.
With increases in both operating and marketing expenses having a significant impact on the company’s bottom line, 888 Holdings plc said Tuesday that it will cut its interim dividend for the half year period ended June 30th after recording a 67 per cent drop in net profit to US$2.7m.
Sweden’s Net Entertainment has reported a 27 per cent increase in revenues to SEK89.2m for the second quarter of 2010, buoyed by continued growth from existing customers as well as the launch of three new customers’ casinos during the period. The company also this morning confirmed additional license agreements for its casino software with Gaming VC’s Betboo and Casinos Austria International’s wholly owned subsidiary Intergame Ltd.
Greek gaming monopoly operator OPAP has reported a 5 per cent increase in total revenues to €1,371.6m for the second quarter of 2010, following a substantial increase in revenues from the company’s Stihima game as a result of the World Cup. The company’s bottom line however was severely impacted by a one-off tax charge of €93.8m levied by the Greek government which pushed net profit down 62 per cent during the period.
The Football Pools operator Sportech has reported a lacklustre performance for the first half of 2010 with gross win revenue for the period falling 12 percent versus a year ago to £28.6m, which combined with substantially higher administrative expenses and exceptional costs resulted in a £5.8m loss for the period.
Sweden’s Entraction AB said Friday that it will initiate a cost savings programme during the next quarter as it looks to return to “good” profitability following significant declines in both net sales and profit for the second quarter ended June 30th.
Benefiting from its “best ever” World Cup, UK bookmaker William Hill plc has reported a 3 per cent increase in net revenues to £529.9m for the 26 week period ended June 29th, with strong revenue growth from the company’s William Hill Online (WHO) business offsetting a decline in retail.
Australia's Centrebet International Limited has reported a 7 per cent increase in revenues to AUD$70.6m for the year ended June 30th, on the back of strong growth from the company’s core Australian operations and increased contributions from the TABs fixed-odds management services contracts.
Benefiting from a continued strong performance from its online offering, Irish bookmaker Paddy Power plc said Wednesday that it expects to exceed current market forecasts for the full 2010 year after posting a 55 per cent increase in total income to €205.6m for the six month period ended June 30th.
As the company begins work on a possible move onto the Main List of the London Stock Exchange, Playtech Limited said Thursday that total revenues for the six month period ended June 30th increased by 29 per cent to €72.9m following strong growth from the company’s online casino product, together with significant contributions from Virtue Fusion.
Following a fall in gaming turnover in June, and despite the World Cup preventing a collapse in sports betting stakes, there was a further drop in the amount spent by Italian gamblers in July, although the figure was still substantially up on that recorded in the same month of 2009.