For the three months ended 30 April 2006 Sportingbet Plc, Britain’s second largest online gaming company, has announced that its profit before tax is up 55% to £21.2 million (US$39.7 million). New registered customers are up 86% to half a million and the number of sports and gaming bets up 39% to 149.3 million, reflecting the increase of online gambling generally. The company’s average rake on its Paradise Poker is up by 90%.

Sportingbet has recently acquired a 50% stake in Puntobet S.R.L., a licensed Italian online sports bookmaker, for a cash payment of €2.9 million (US$3.7 million). Current Group Finance Director, Andrew McIver, will become CEO in October with Nigel Payne remaining as an Executive Director and responsible for regulation and business development. A new Group Finance Director will be appointed.

Commenting on today's announcement, Chairman Peter Dicks said: “We are delighted with the performance of the Group this quarter. Our strategy of providing customers with multi-product, safe, online gambling opportunities via localised websites under one virtual roof has yielded yet another record performance for us. In the three months ended 30 April 2006, we have recruited more new customers, taken more bets, played more games of poker and made more profit than in any previous third quarter.”

Nigel Payne, Chief Executive, said: “I am very pleased to report a record performance for all parts of the Sportingbet Group this quarter, with each of our operating regions achieving its best ever performance.” He added, “The further development of our product offering, with the introduction of a new casino suite and in-running betting for our US facing brands, should further enhance our customer focused product offering. In addition, we look forward to the FIFA World Cup, which will boost volumes in the usually quiet season for our European business.” (E-05.25.06)

© Copyright 2006 CasinoCompendium



>>> return to archives
>>> return to frontpage