The UK Gambling Commission (UKGC) has begun its next set of consultations examining the government’s white paper proposals which cover financial penalties and financial key event reporting. The consultations – running for 13 weeks – are part of the commission’s second batch which were launched at the end of November, but will have a different closing date of 15 March …
Read More »Tag Archives: financial
Rivalry reports record third quarter revenue but net loss remains
Rivalry has demonstrated a record Q3, reporting reduced marketing spend and flattened opex, as the group publishes its latest financial results. The period – which ended 30 September 2023 – saw revenue of $8.7m, representing 22% increase year-over-year (Q3 2022: $7.1m) and also the highest yet for the sports betting platform’s third quarterly activity. Notably, the TSX-listed esports-focused bookmaker also …
Read More »Svenska Spel encounters 2022 hurdles as Q1 NGR declines 3%
Swedish gambling company Svenska Spel has reported a ‘challenging start’ to 2022 in that both revenue and earnings have been affected by pandemic impacts and regulatory developments during the first half of Q1. However, as set out in its interim report for January – March 2022, the state-owned group’s focus on gaming liability measures seem to have had a more …
Read More »LeoVegas cuts back on marketing splurge in third quarter
The trend of growing online gaming revenues for Scandinavian-facing operators was very much confirmed late this week when newly-listed LeoVegas showed third-quarter revenues growing organically by 76%. The company said revenues soared to €37.9m and that total deposits grew 87% to €123.7m. The increase in player numbers was in line with the revenue uplift, up 77% to nearly 156,500; new …
Read More »Spring Carnival boosts William Hill Q4 performance
William Hill’s Australian operation was the only one that increased its operating profit in the fourth quarter, thanks to the Spring Carnival period, with a 59% jump mitigating somewhat a 13% drop in retail operating profit and a 6% dip online. It meant that the group’s Q4 operating profit as a whole dropped 7%. On a full-year basis, Group net …
Read More »World Cup worth £16m to Unibet
Swedish-based operator Unibet generated gross winnings of £16m during the World Cup, according to the firm’s interim results, with £9.5m generated in June and £6.5m in July. Almost half of Unibet’s turnover during the World Cup came from live betting, a figure much lower than the operator’s usual operations. While Unibet had a comprehensive pre-match offer with over 350 bet …
Read More »Betfair revenues on the up
Betfair has seen a slight rise in revenues of 2% to £393.6m but its profit before tax figure has shot up to £61.1m, compared to last year’s reported loss of £49.4m. It has been a tough couple of years for Betfair as it has switched its operations to concentrate solely on regulated markets, but today’s annual results suggest that the …
Read More »Fourth year of growth for 32Red
Online casino operator 32Red has reported a fourth consecutive year of record revenues – up 21% to £35.6m – and underlying EBITDA – up 46% to £5.0m. Profit before tax was up 12% to £2.3m. Chief executive officer Ed Ware said: “This is our fourth consecutive year of delivering double digit growth in both sales and EBITDA underpinned by a …
Read More »Fortuna performance driven by sportsbook
European bookmaker Fortuna Entertainment Group has announced a 21.2% increase in turnover to €567.2m (£465.7m) for 2013 with a 5.1% increase in gross win to €116.5m (£95.7m). The company also recorded net profit of €15.6m (£12.8m), 26.4% more than in the previous year, thanks to a ‘better operating performance’. The bookmaker, which operates in Poland, the Czech Republic and Slovakia, …
Read More »5% profit growth marks ‘good year’ for Paddy Power
Paddy Power chief executive Patrick Kennedy has hailed another ‘good year’ for the bookmaker, which has marked growth in every division, particularly online which now delivers over three quarters of the group’s profits. The firm has reported a 17.5% upturn in revenues to €745m (£613m) for 2013, and record profit before tax of €141m (£116m), up 5% on 2012, despite …
Read More »