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Sportingbet Poker Revenue Falls 53 Percent, CardPlayer

Sportingbet Poker Revenue Falls 53 Percent, CardPlayer | Poker & eGaming News | Scoop.it

Sportingbet Plc, owner of Paradise Poker, has reported third quarter financials 2011/2012 (the three months to the end of April 2012) with poker taking a hammering.Net gaming revenue from poker fell 53 percent to £1.5 million from £3.2 million in the third quarter of 2011.

 

The company said it faced “challenging market conditions” and added that, “Our casino and games and poker product remain a key part of our overall offering, creating a ‘one stop shop’ which has been proven to increase customer loyalty.”

 

In financial year 2010/11 (the 12 months to July 2011) saw net gaming revenue from poker down 18.5 percent to £17.7 million.

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Sportingbet Q3 Profit Drops On Turkish Sale, David Altaner, GamblingCompliance

London-listed Sportingbet’s third-quarter earnings before interest, tax, depreciation and amortisation dropped by a third as the company sold its profitable Turkish operations and had operations suspended in Spain.

 

Sportingbet's Australian business accounts for over 90 percent of our profits.

 

Greek net gaming revenue dropped 19 percent and Spain dropped 14 percent, before operations there were suspended on March 27.

 

About 52 percent of revenue came from regulated territories.

 

Overall, EBITDA fell to £10.8m from a year earlier at £16.1m.

 

Other sources:

http://www.egrmagazine.com/news/sportingbet_saved_by_australian_profits

http://www.igamingbusiness.com/content/australian-results-help-sportingbet

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B2B part of GVC increases dramatically, GVC Holding

GVC Holdings PLC (AIM:GVC), online gaming and sports betting markets, updated trading data for the period from 1 January 2012 to 20 May 2012 along with comparatives for 2011.

 

Turnover across the Group for the period increased 168% to €279k per day (2011 €104k).

 

B2C division - turnover rose 7% to €105.2k per day (2011: €98.4k per day)

 

TURNOVER PER DAY in €000's, average over 1 year

20 May 2012 - 20 May 2011 - 31 Dec 2011 

B2C   105.2 - 98.4 - 104.7

B2B   174.1 - 5.8 - 27.6

Sum 279.4 - 104.2 - 132.3

 

Total daily turnover increased 168% year-on-year, up from €104,200m to €279,400m, driven predominantly by the company’s B2B arm, established after the GVC-backed East Pioneer Corporation acquired Sportingbet’s Turkish-facing site Superbahis for a minimum consideration of £125m in October last year. Over the same period in 2011 the operator’s B2B arm reported a daily turnover of just €5,800, compared to €174,100 this year.

 

Growth in B2C daily turnover, which grew to €105,200, up 7% from €98,400 in the equivalent period in 2011, was aided by the sale of the group’s loss-making Betaland brand in April this year.

 

Other sources:

http://www.egrmagazine.com/news/gvc_reports_soaring_daily_turnover

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Last minute tax surprise, iGaming Post

Last minute tax surprise, iGaming Post | Poker & eGaming News | Scoop.it

Weeks before online gambling licenses are to be handed out June 1, Spanish authorities have sprung a potentially game-changing surprise. They are demanding that applicants pay backdated tax for the last four years.

 

Bwin.Party, Euro 60 million

Sportingbet/Miapuesta, Euro 50 million

PokerStars, Euro 200 million

 

Some operators could find the demands too heavy and withdraw their applications for licenses.

 

Other sources:

http://www.igamingbusiness.com/content/spanish-tax-agreement-bwinparty

http://pokerfuse.com/news/law-and-regulation/sportingbet-confirms-spanish-tax-settlement/

http://www.egrmagazine.com/news/breaking_operators_rush_to_meet_spain_tax_demands

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Two Way TV and Samsung partner to offer sports betting, GamingIntelligence

The betting application will be made available on Samsung’s internet enabled TVs, smartphones, tablets, Blu-ray players, home theatre systems and other consumer products. It allows viewers of broadcasted sports events to place bets via their TV remote control or other compatible device.

 

The deal follows the signing of a similar agreement in January of this year between Two Way TV and LG Electronics Australia.

 

The company currently has agreements in place to develop TV betting with two of the leading betting operators in Australia, Betfair and Sportingbet.

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Online Poker in Spain: Who's In? Pokerfuse

Online Poker in Spain: Who's In? Pokerfuse | Poker & eGaming News | Scoop.it

Since December, we have seen various operators bowing out (notably Bodog, Unibet and other Microgaming skins). A last minute surprise—a demand from the Spanish tax man to pay four year’s of back-taxes—has raised questions as to which poker rooms will be getting licenses in a few days’ time.

 

Still no official list has been published, but given recent statements from various operators we have a good idea of who has their fingers crossed for a license.

 

PartyPoker: €31m in back-taxes paid.

Ongame: Betfair paid ~€10m, poker license application “shortly.”

888poker: €8.7m paid.

PokerStars

iPoker: Bet365, William Hill and Paddy Power

Microgaming: Ladbrokes and StanJames.

Boss Media/GTECH G2: Sportingbet has €17.2m paid—but sportsbook only?

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Sportingbet shares slump due to Spain, iGaming Post

Sportingbet shares slump due to Spain, iGaming Post | Poker & eGaming News | Scoop.it

Shares for Sportingbet slumped by 7% today, after the group admitted that it faces an unexpected tax bill for its Spanish operations. The firm hasn’t stated how great the damage could be. Analysts expect Sportingbet’s liability to be less than e20 million.

 

Betfair has agreed to pay 10 MEUR.

 

Other sources:

http://www.gaming-awards.com/NEWS/archives/9688

http://www.gaming-awards.com/NEWS/archives/9855

http://www.cardplayer.com/poker-news/13346-sportingbet-to-pay-17-million-back-tax-in-spain

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