Gibraltar-based bookmaker Victor Chandler says that its new in-play betting product developed by Zukido has contributed to a 300% increase in betting turnover in the first six weeks since launch, positioning the company for what it hopes will be a highly lucrative World Cup tournament.
Following a year of strong growth during which net winnings increased by 20% to €24.7 million, Leisure & Gaming plc said Thursday that net winnings for the first quarter of 2010 dropped by a third to €5.8 million as a result of lower margins on sports betting versus last year's exceptionally strong comparable period.
Despite strong growth from its Betaland brand, Gaming VC said Monday that full year net profit for 2009 fell by 19% versus the previous year, warning that the result for 2010 is expected to be even lower still.
Trading in shares of Redbet Holding AB have been suspended in Stockholm Wednesday after the share price dived in early trading ahead of a planned profit warning from the company.
bwin Interactive Entertainment said Thursday that it expects a substantial increase in both revenues and profit during the current financial year as it revealed a return to profit in 2009, leading to the declaration of its first ever dividend.
In a boost to the company's balance sheet which remains heavily laden with net debts of over £690 million, UK bookmaker Ladbrokes plc said Wednesday that it expects to receive a cash receipt of approximately £80 million in respect of corporation tax repayable from HM Revenue and Customs (HMRC).
Sportingbet plc has this morning confirmed its intention to apply for admission to the official listing of the London Stock Exchange's Main Market, expected to take place on Thursday May 14th, with the company also providing notice of its intended cancellation of trading of its shares on London's AIM Market on the same day.
Swedish gaming monopoly operator Svenska Spel has reported a 4.2% fall in first quarter 2010 gross gaming revenues as a result of reduced customer spending at its Vegas gaming machines, land-based casinos and its internet poker and lottery offerings.
Despite the complete withdrawal of its domestic business in Germany, Tipp24 AG has reported a 95% increase in total revenues to €89.6 million for 2009, following strong growth in revenues from Spain, Italy and the UK, with the company expecting revenues this year to top €100 million.
As the company continues to internationalise its business as it seeks to return to growth, Åland's Paf has reported a 16% fall in turnover to €74.7 million for 2009, with almost two thirds of its annual turnover now generated online.
Germany's Jaxx AG said Wednesday that higher revenues from sports betting and strong growth in the Spanish market helped the company to halve its annual loss in 2009, while ongoing restructuring efforts are expected to deliver seven-figure cost savings in the course of 2010 as it prepares to expand into newly liberalised European markets.