Greek gaming monopoly operator OPAP said Monday that it is well positioned to take advantage of the impending regulation of the Greek gaming market, which the company expects to include provisions for online gaming and video lottery terminals (VLTs), despite posting a 6 per cent drop in third quarter revenues to €1,134.6m.
U.S gaming giant Harrah’s Entertainment Inc. has announced that the company has pulled its planned US$500m flotation on Nasdaq, after a lack of interest from investors willing to pay between $15 and $17 per share.
Alongside announcing the sale of a stake in the company’s Italian Scratch & Win lottery game, Italy’s Lottomatica Group said Tuesday that revenues for the third quarter of 2010 increased by 12 per cent to €552.2m following strong growth from its Gaming Solutions business as well as its Italian Operations division where interactive revenues rose by 26 per cent.
Bingo.com Limited has announced that one of its major shareholders, Praetorian Capital Management LLC, has sold all of its 8,675,999 shares in the company, representing 13.58 per cent of the total issued and outstanding shares of Bingo.com.
While the company looks to increase its focus on the German sports betting market and cease further investment in the lottery segment, JAXX SE said Thursday that revenues for the third quarter of 2010 increased by 14 per cent to €29.4m, with sports betting now accounting for 79 per cent of total revenues.
Despite posting a 14 per cent increase in net gaming revenues to €95.3m, Austria’s bwin Interactive Entertainment AG said Thursday that the company incurred a consolidated net loss of €6.0m for the third quarter of 2010 after expenses increased by more than one third compared to last year.
Despite significantly reducing costs and expenses during the period, Bingo.com Limited has reported its seventeenth consecutive quarterly loss for the third quarter of 2010 as total revenues slumped by 93 per cent to just $97,509.
Australia’s Two Way Limited has raised AUD$400,000 via a placement of the company’s shares which will enable the company to continue to expand its interactive TV wagering service across Australia.
CryptoLogic Limited said Thursday that it has undertaken further restructuring measures in order to “aggressively” reduce costs as the company reported a 36 per cent decline in revenues to US$6.1m for the third quarter ended September 30th.
Benefiting from ongoing significant investment and momentum generated during the first half of the year, Irish bookmaker Paddy Power plc said Wednesday that its international online businesses and UK retail operations have continued to grow strongly for the period July 1st to November 15th 2010, with gross win from the company’s online channel up by 33 per cent year-on-year.
Continuing its strong performance so far this year, Mangas Gaming Group’s subsidiary Bet-at-home.com has reported a 58 per cent increase in net gaming revenues to €16.7m for the third quarter of 2010.