Boss Delivers Two European I-Casinos

3 July 2002

Two new, European Internet casinos were launched on July 1: Victor Chandler Casino and SuperVegas Casino, which is owned by Sportingbet.com plc. Those well-known brandnames used the services of the Swedish Boss Media group.

The principal activity of Boss Media AB is the development, marketing and licensing of software for Internet gaming. The company supplies the market with licensed software containing a client-server system and browser-based java, an integrated payment system and maintenance and administration services. The wholly owned subsidiary, Boss Casinos, owns the license for an online casino, Gold Club Casino.

Boss Media is a leading supplier of digitally distributed gaming entertainment in Europe. The software supplier signed a casino contract on June 25 with the U.K. bookmaker bet365 Ltd. and before that, on May 15, signed an agreement to build an online casino for the Gala Group Ltd., the United Kingdom's leading bingo and casino company.

On Oct. 1, 2001, Peter Bertilsson took up his post as the president of Boss Media. Since then he has lead the formerly troubled group through a severe restructuring that resulted in cost savings of some SEK 30 million on an annual basis, which became fully effective on Jan. 1 of this year.

In 2001, net sales fell by 7 percent to SEK 173.1 million. And profit after financial items amounted to SEK 9.0 million. In 2001, the company signed seven license agreements.

VictorChandlerCasion.com will be the Victor Chandler Group's third caisno. Headquartered in Gibraltar, Victor Chandler International attracted more than 150,000 customers worldwide and had monthly turnover in excess of £50 million in 2001.

VCI launched its first online casino, the Spin Room, in 2000, and followed it with victorcasino.com in late 2001. The group plans to launch 12 new gaming products worldwide by mid-2002.

Sportingbet Plc is probably the most profitable Internet businesses in the world, judging by its preliminary results for the year ending March 31. The company is reporting:

  • Turnover of £991.5 million (2001: £324.7 million).

  • Gross profit of £60.3 million (2001: £14.7 million), at 6.1% of turnover (2001: 4.5%).

  • Operating profit of £14.2 million (2001: loss £2.1 million) before amortisation of goodwill of £6.3 million (2001: £1.0 million) and exceptional costs of £1.5 million (2001: £0.5 million).

  • Profit before tax of £5 million (2001: loss of £4.2 million) after finance costs, amortisation of goodwill and exceptional costs.

  • Earnings per share before exceptional costs and goodwill of 8.7 pence (2001: loss per share 2.3 pence).

  • Cash generated from operating activities of £17.2 million (2001: outflow of £1.5 million), with £21.5 million (2001: £12.1 million) of cash and cash deposits on the balance sheet.

  • Customer numbers up 468,522 from 90,065 to 558,587 in some 150 countries

  • Strong organic growth with 157,520 new customers from marketing.

  • Reduced cost of acquisition of active customers to £350 (2001: £505).

  • Acquired business Number One Betting Shop performing in line with expectations. Integration is complete.

  • Acquired business Sportsbook performing ahead of expectations. Integration ahead of schedule and will be complete in July.

  • Improved performance in Europe with profitability now in sight.

The group, which offers betting on a wide assortment of international sports and accepts bets in 23 currencies, conducts operations via betting licences in the Channel Islands, Costa Rica and Vanuatu.

In January, the group was granted an offshore Australian telephone and Internet gaming licence by the government of the Northern Territory. Sportingbet purchased the business and customer database of Australian bookmaker Michael Sullivan for £1.8 million, half of which will be paid on completion of the sale. The other half of the purchase price will be paid on the first anniversary of completion.

On June 26, Sportinbet acquired the entire share capital of Sporting Odds Ltd. for a consideration of £4.5 million. Sporting Odds is the fixed odds business of spread betting company Sporting Index.

SuperVegas Casino is operated by Capital Consulting N.V. through Boss Casinos N.V. SuperVegas Casino is regulated by government degree issued by the deputy governor of the Netherlands Antilles to Boss Casinos N.V.




Rob van der Gaast has a background in sports journalism. He worked for over seven years as the head of sports for Dutch National Radio and has developed new concepts for the TV and the gambling industry. Now he operates from Istanbul as an independent gambling research analyst. He specializes in European gambling matters and in privatizations of gambling operators. Rob has contributed to IGN since Jul 09, 2001.