Finance news sponsored by SBTech

For the second time in twelve months, Betsson executives have been invited to preside over the Nasdaq bell ceremony at the Nasdaq MarketSite in New York's Times Square.

Irish bookmaker Paddy Power plc said ahead of its annual general meeting today that trading in the first 19 weeks of 2010 has been very strong online with sportsbook margins returning to normally expected levels, helping to offset a decline in the amounts staked through its retail and telephone channels.

New Football Pools operator Sportech plc sounded an optimistic note Thursday as it said it would soon unveil plans regarding the "exciting and significant potential" of the newly enlarged business following its acquisition of Scientific Games Racing.

The future of horse racing in New York is in jeopardy after the New York Racing Association (NYRA) warned Monday that it may be forced to shut down operations within three weeks, with the company now reliant on money from the state to help it through to the Belmont Stakes next month, the final leg of the Triple Crown.

GigaMedia said this morning that it has completed the sale of a 60 per cent interest in its online gambling software business to France's Mangas Gaming, after the company posted a 16 per cent fall in total revenues to $159.6m for 2009, suffering from a worse than expected performance from both the company's online gambling software and Asian online games businesses. Limited has reported a net loss of $344,806 for the first quarter of 2010, the company's fifteenth consecutive quarterly loss, despite reducing cost of sales and operating expenses as a result of the change in software platform to Unibet's partner programme., a subsidiary of France's Mangas Gaming Group, has reported record results for the first quarter of 2010, with net gaming revenues rising 56 per cent to €13.7m after the company recorded significant increases in betting and gaming turnover during the period.

Spanish gaming group Codere S.A said Friday that earnings for the first quarter of 2010 reached €54.4m, exceeding the company's previous guidance range of €48m to €50m, following a marginal increase in revenues during the period.

Confirmed as the sole bidder for Italy's Scratch & Win tender, Lottomatica Group has reported a 7 per cent fall in total revenues to €544.6m for the first quarter ended March 31st, with growth in the company's interactive subsidiary GTECH G2 as well as its Gaming Solutions business offsetting declines in GTECH Lottery and Italian Operations.

Ladbrokes plc said Friday that net revenues from its interactive division fell by 2 per cent for the four month period ended April 30th, with growth in the company's online sportsbook and bingo products offsetting declines in poker and casino. Overall Ladbrokes reported a 6 per cent drop in net revenues during the period, further impacted by declines in the company's UK and Irish retail operations.

bwin Interactive Entertainment has reported gross gaming revenues of €133.2m for the first quarter of 2010, an increase of 13 per cent compared to the same period last year, benefiting from record turnover from the company's sports betting product and significant contributions from the recently acquired Gioco Digitale.

GIQ Magazine Digital Edition