Stanley Officers Sell
Several of Stanley Leisure Organization Plc (SLY.L)'s top officers last week sold shares in the company after exercising stock options. CEO Robert Wiper sold 65,994 shares after exercising an option of over 80,500 shares, leaving him with a .06 percent holding in the company. Finance director Michael Riddy sold 36,481 shares after exercising an option of over 44,500 shares and was left with a .02 percent stake in the company. Paul Collis, managing director of the casino division, sold 62,931 shares after exercising an option of 86,000 shares, retaining a holding of .02 percent of the company, and John Whittaker, managing director of the betting division, sold 45,909 shares after exercising an option of over 56,000, retaining a .08 percent holding in the company. All shares were sold at £4.23 each.
New Zealand Betting Records
The New Zealand Racing Board announced today that this year's racing season set new records for racing and sports betting. The Racing Board said that $1.232 billion was bet on sports, horse and greyhound racing, a total that is $25 million greater than last year's record breaking year. Turnover on horse and greyhound racing for TAB also set a record, rising $34 million to $1.045 billion.
Sportingbet Trading Update Announces Great Numbers
British gaming company Sportingbet Plc (SBT.L) last week released a trading update to announce that trading during the four months ended July 31, 2004 had been ahead of management's expectations. Though the four months are traditionally quiet, Sportingbet says its operating profit before goodwill should be at least £2.1 million, compared to just £0.9 million last year. During the period the company has gained 76,922 new customers who combined with the already existing customers generated a 55 percent increase in the number of sports bets placed to 9.2 million. Sportingbet will announce its results for the sixteen months ended July 31, 2004 on October 19, 2004 following the completion of an audit.
Reports Released
Youbet.com, Inc. (UBET), a California-based wagering and horse racing content provider, has published its financial results for the second quarter of 2004, showing $39,766 in net income, an increase of $1 million as compared to last year's net loss of $982,545 over the same period. The quarter also marked the company's tenth consecutive quarter of net revenue growth and it second straight quarter of net income. Gross handle for the period increased 13.3 percent to a record $83 million, even though its network was prohibited from carrying the 2004 Preakness Stakes and all Magna Entertainment-provided content outside of California. Net revenue for the quarter increased 22.2 percent to a record $5.7 million.
Youbet.com, Inc. - 2nd Quarter Report
Software provider CryptoLogic, Inc. (CRY.TO)’s financial report for the second quarter ended June 30th shows a profit increase of 29 percent to $3.2 million, up from last year's second quarter profit of $2.5 million. Quarterly earnings reached 23 cents per share, ahead of last the forecasted value of 20 cents per share. Revenue for the period grew 38 percent to $14.9 million. On June 30th CryptoLogic had no debt and $77.2 million in total cash. A quarterly dividend of 3 cents per share has been awarded to shareholders.
CryptoLogic, Inc. - 2nd Quarter Report
UK-based software provider World Gaming Plc (OTC.WGMGY) has released its financial results for the second quarter ended June 30, 2004, reporting a quarterly net profit of $1.7 million ($.04 per share) as compared to a net loss of $236,000 ($.01 per share) over the same period last year. Revenues for the quarter climbed 39 percent to $4.1 million from last year's $3 million. The group was also able to drop its operating expenses 22 percent to $2.3 million from $2.9 million last year. Other second quarter highlights include an increase of 85 percent in system-wide wagering as compared to the same period last year and also the settlement of outstanding lease liability.
World Gaming Plc - 2nd Quarter Report