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Betclic Everest Group loss €100m, GamingIntelligence

The figures from Société des Bains de Mer (SBM), which holds a 50 per cent stakereveal that Betclic Everest Group’s full year loss amounted to €100.4m. At the half year stage, Betclic Everest’s loss amounted to €66.2m, with the €34.2m second half loss representing an improvement on the prior six months.

 

Betclics has a 0,51% poker market share in Italy 2.65 % of the casino market. BEG’s Bet-at-home unit continues to perform strongly meanwhile, with first quarter 2012 net gaming revenues climbing 15.9 per cent year-on-year to €18.9m. The business has also recently received a licence to offer sports betting online in Schleswig-Holstein. 

 

Previous majority owner GigaMedia described BEG as clearly struggling and without strategy.

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Betclic Everest has no worth, Gaming Intelligence

GigaMedia attributed the omission to the failure on the part of Betclic Everest to provide it with financial results for the first quarter of 2012, but GigaMedia CEO John Stringer offered little hope for optimism when questioned about the subject.

 

It has suffered hugely from the impact of two irresistible forces - French re-regulation and the decline of online poker.

 

Betclic Everest Group is a private company, comprising Betclic, bet-at-home, Expekt and Everest. But while it remains private, its 50 per cent shareholder Société des Bains de Mer (SBM) and Everest part-owner GigaMedia are public companies (as is bet-at-home) and hence, declare the figures for certain parts of the Betclic Everest group.

 

Other sources:

http://www.gamingintelligence.com/premium-news-and-archive/14298-winners-and-losers-2011-betclic-everest-group

http://www.igamingbusiness.com/content/confused-picture-gigamedia

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Four additional operators secure Schleswig-Holstein licence, Tom Victor and Robin Harrison EGR Magazine

Four additional operators secure Schleswig-Holstein licence, Tom Victor and Robin Harrison EGR Magazine | Poker & eGaming News | Scoop.it

Bwin.party, Bet365, Betclic Everest subsidiary bet-at-home and Malta-licensed operator Tipico have become the latest companies to receive a Schleswig-Holstein licence, allowing them to offer sports betting in the jurisdiction with immediate effect, with licences for poker and casino expected to be awarded “in due course.”

 

Less than a week before the CDU’s election failure, Betfair, mybet and Die NordwestLotto were announced as the first three operators to be granted a license in Schleswig-Holstein, and following today’s news another 24 operators are still awaiting news on their own sportsbook appilcations, with a further 17 having applied solely for poker and casino approval.

 

Other sources:

http://pokerfuse.com/news/law-and-regulation/new-schleswig-holstein-licenses-solidify-law-pave-way-online-poker-germany/

http://www.gaming-awards.com/NEWS/archives/9860

 

In 2011, the bwin.party Group generated total pro forma gross sports betting revenue of approximately €96.1m from Germany. Revenues generated under the licence will be taxed at the rate of 20% of gross gaming revenue.

http://www.bwinparty.com/Investors/FinancialNews/2012/120523%20Schleswig-Holstein%20Licence.aspx

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Increased advertising impacts bet-at-home’s net profit in Q1

BetClic Everest Group subsidiary bet-at-home.com has reported a 16 per cent increase in net gaming revenues to €18.9m for the first quarter of 2012, with further investment in advertising continuing to impact the company’s bottom line.

 

Euros Q1 2011 Q1 2012
Betting & gaming turnover 427.2m 527.7m
Gross gaming revenues 18.3m 21.1m
Net gaming revenues 16.3m 18.9m
Advertising expenses 8.0m 11.1m
EBITDA 3.8m 1.9m
Net profit 2.5m 1.4m

 

Other articles:

http://www.4-traders.com/BET-AT-HOME-COM-AG-464743/news/bet-at-home-com-AG-Continued-success-in-the-1st-quarter-of-2012-14314680/

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