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Weak sports betting margin limits JAXX’s growth in Q2

12th August 2011 8:19 am GMT

Germany’s JAXX SE has reported a 3 per cent increase in net gaming revenues to €12.2m for the second quarter of 2011, with growth from the company’s online gaming products offsetting a decline in sports betting.

JAXX said that the second quarter was a disappointing period for the company as a result of two low-margin months, with a high share of wins by favourites.

Gross revenues rose by 24 per cent to €39.1m, while payouts of winnings [...]

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