Strong H1 for Norsk Tipping
Norsk Tipping, the Norwegian national lottery operator, has released first-half results, which show a 4.6 percent jump in turnover compared to H1 2006. "All the traditional numbers games are in a period of growth--the most robust being Viking lotto and lotto," said Norsk CEO Reidar Norby. "This growth is very welcome and shows that the games are maintaining their appeal with the general public."
Tipp24 Completes Share Buyback
Germany-based online lottery operator Tipp24 AG has completed its share buyback program launched in February. In May, company shareholders authorized that a total of 443,615 shares--an estimated 5 percent of its capital stock--be bought back at an average of 17.88 euros per share, or 7,932,516 euros ($10.8 million), in total.
888 Director Offloads 100,000 Shares
888 director Jonathan Preminger has sold 100,000 shares at 114.25p per share. Following the sale, the company said, Preminder holds 151,521 shares.
British Media Report Rank Takeover Rumors
The Times reported Wednesday that London-listed Rank Group had held informal talks with Harrah's Entertainment, the U.S. owner of London Clubs International. Analysts, the paper said, believe that the recent casino-duty rise makes the chances of consolidation "more likely." Neither company has commented on the rumors.
888 Releases Trading Update, Says H1 is Going Well
In a trading update released last week, 888 said that first-half sales had met with managerial expectations and that the company was "confident" regarding earnings for the year. It will report first-half results on Sept. 10.
Analyst Places "Hold" Rating on Scientific Games
In a research note published Wednesday, analyst Ryan Worst of Brean Murray maintained his "hold" rating for Scientific Games, which, last week, lost out on the OPAP IT tender. Murray said that the company's growth in China, Mexico and Germany is unlikely to offset the potential loss of revenues from existing contracts over the next two years.
Tabcorp Appoints New CEO
Australian operator Tabcorp has named Elmer Funke Kupper chief executive officer. Kupper, 42, joined Tabcorp in January 2006 and has helmed the company since former CEO Matthew Slatter was sacked four months ago. Shares in the company have risen 15 percent in the last 12 months, lagging behind a 77 percent rally in Tattersall's and a 26 percent gain by the benchmark S&P/ASX 200 Index. Tabcorp was down A$0.07 to A$17.40 on Friday's close.
Ladbrokes Shares Upped to "Buy," Brokerage Says
Shares in Ladbrokes fell 2.4 percent on the LSE Friday after Deutsche Bank upgraded it to "buy" from "hold," saying it believes the benefits of U.K. deregulation are largely not factored into market forecasts. In a research note, the broker said that the company could benefit from "longer winter opening hours as well as deregulation," both of which are set to be effected this September.