Party Shares Up 13 Percent on Positive Q3 KPIs
PartyGaming released third-quarter KPIs Thursday highlighting a 24 percent increase in revenue to $115.7 million against the previous-year period, driven primarily by solid growth in casino, it said. Click here to read the full story, and click here to view reactions from various European brokerages and papers.
On a High Note
Sweden-based operator Redbet Holding AB has released third-quarter results, which show net turnover up 416 percent to SEK 18.5 million (2.02 million euros) with turnover across the first nine months of FY 2007 up 316 percent to SEK 38.5 million (4.2 million euros). The company also reported a net profit of SEK 2.1 million (229,000 euros), having done so just once since its July 2006 flotation. Redbet noted that turnover figures will be relayed on a month-to-month bases for the remainder of the fiscal year. October's figures are due out Nov. 6. On the Stockholm Stock Exchange, shares in the company were up SEK 16.50, or 26.61 percent, to SEK 78.50, a 52-week high.
Liquidator Confirmed
The Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda confirmed that it has appointed London-based Vantis Business Recovery Services to liquidate BetonSports' Antiguan assets in an effort to recover the company's outstanding accounts receivable and repay its creditors and former U.S. customers. Vantis is also acting as liquidators of the company's U.K. assets.
Coming Soon
Unibet announced Monday that it would bump up release dates for its interim reports across FY 2007 and '08, the next of which is expected Oct. 31.
Green Spell
State-owned operator Svenska Spel has released third-quarter results, which show profits up SEK 92 million ($14.2 million) to an estimated SEK 1.4 billion ($215 million) against the previous-year period. The company said overall profit for the first three quarters rose 19 percent to roughly SEK 4 billion ($619.9 million), with poker rake up 140 percent to SEK 283 million ($43.8 million). "The positive pattern is continuing and we expect a record dividend for sports," said Svenska CEO Jesper Kärrbrink.
Ladbrokes, Rank Rumors
According to Reuters, Tuesday rumors of a tie-up between Ladbrokes and Rank Group sent shares in the lately-struggling leisure group up 2p, or 2.03 percent, to 100.50. Neither company has commented on the rumors.
A Happy Death
Rumors BoyleSports would purchase 32Red's BetDirect operation were put to rest Thursday as Daniel O'Mahoney, chief executive of the Irish operator, said, "We will not be buying BetDirect." The announcement came on the publication of the company's full-year results.
Seeking Buyer
The Times reported that Betfred, the United Kingdom's fourth-largest bookmaker, is understood to be considering a sale or private equity buyout as an alternative to its canceled £600 million flotation.
Profits This Time
Bet24, one of four cogs comprising Scandinavia-facing Modern Times Group's online offering, has reported a third-quarter profit of 206,500 euros against a 814,000 euro loss during the previous-year period.
Tough Quarter for Boss
In its third-quarter results, Boss Media reported operating profits and sales were down 34.6 percent and 11 percent to 1.27 million euros and 7.48 million euros, respectively. On the Stockholm Stock Exchange, shares in the company were down SEK 1.25, or 10.12 percent, to SEK 11.10.