CryptoLogic CEO Brian Hadfield is leaving the company after reporting second quarter results Thursday which showed a continuing decline in revenues and mounting losses, with chairman David Gavagan stepping in as interim CEO to oversee further restructuring and a reduction of the company's workforce.
Benefiting from a successful World Cup, Sportingbet plc said Thursday that the company took more than £50m in betting stakes on markets involving the World Cup during its financial fourth quarter ended July 31st, with in-play betting accounting for 65 per cent of the total.
Australia's Tabcorp Holdings Limited has reported a marginal increase in net revenues to AUD$4.2bn for the year ended June 30th, with growth from the company's wagering division offsetting declining contributions from its gaming businesses in Queensland and Victoria.
As the company prepares for the launch of online gaming services to Finnish citizens, Finland's state-controlled gaming operator Rahaautomaattiyhdistys (RAY) has reported a marginal increase in total gaming revenues to €322m for the six month period ended June 30th.
Benefiting from strong growth from the company's Twinspires.com online wagering service, Churchill Downs Incorporated (CDI) has reported an 11 per cent increase in net revenues to US$200.5m for the second quarter of 2010.
Buoyed by a strong performance from its sports betting product, in particular during the World Cup, Unibet Group plc has reported gross gaming revenues of £39.2m for the second quarter of 2010, an increase of 31 per cent compared to the same period last year.
Tipp24 said Thursday that the total amount paid out for secondary lottery winnings exceeded the statistical average by €17.9m during the first half of 2010, following a jackpot win of €11.7m at its subsidiary MyLotto24, leading the company to reduce its full year EBIT forecast by a half from at least €40m to €20m.
Unsurprisingly, Italy's sports betting figures were on the up in July, thanks to the final stages of the World Cup taking place during the month. However spending on poker was again flat, with turnover a fraction lower than June's total.
Ladbrokes plc has reported an 11 per cent year-on-year drop in net revenues to £500.2m for the half year ended June 30th, following declines in its UK and Irish retail operations, with only the company's interactive division achieving growth during the period.
PartyGaming plc has reported a 30 per cent increase in total revenues to €181.2m for the first half of 2010, driven by strong growth in the company's online casino and sportsbook offerings, as well as a maiden contribution from Cashcade which helped to offset the continued poor performance of poker.
Following declines in both the company's online casino and poker revenues, 888 Holdings plc said Tuesday that total operating income for the second quarter of 2010 remained flat versus the corresponding period last year at US$61.0m.