Tag Archives: financial

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 …

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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 …

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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 …

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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 …

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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 …

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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, …

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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 …

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William Hill upbeat despite slight loss

William Hill has posted a slight loss after tax for 2013 (down 2 per cent to £226.5m) but the underlying trends in the business indicate a company still on the up. Net revenue for the whole company was up 16% to £1.49bn with Retail Net Revenue up 8% to £907m and online Net Revenue jumping 10% to £446.3m. Operating profit …

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Betting Promotion Sweden Acquires Tain Gaming

Swedish sports betting software supplier Betting Promotion has agreed the purchase of igaming software developer Tain from gambling company Atletico Nordic. The  acquisition of Tain Gaming has been set at approximately SEK44.3 million (€5 million/$6.9 million), and will see Tain services fully acquired including subsidiaries Tain Ukraine, Tain Malta, Tain International and WL Services. Betting Promotion had been eying the …

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