Bwin, Sportingbet Rumors Renewed
Market chatter across CNN and the financial wires suggests Sportingbet could be the target of a 70p per share takeover approach as early as next week. Bwin is thought to be a likely candidate after launching a bid approach for Sportingbet last March. Sportingbet could not be reached for comment, and Bwin Investor Relations Head Konrad Sveceny told IGN that, categorically, the company does not comment on market rumors.
Enter Ladbrokes' Newest Stakebuilder
Oft-courted bookmaker Ladbrokes' mystery buyer has been revealed, and he is in a position to be a well-placed suitor. Click here to view the full story.
Lewis Bid on Ladbrokes Unlikely, Brokerage Says
Brokerage Citigroup said Friday in a note to clients that while billionaire Joe Lewis has built a 7 percent stake in Ladbrokes, the fact that Lewis has similar-sized investments in a number entities means he is unlikely to make a bid in the near-term.
Parlay M&A: PEIC Acquisition Withdraws, Two Suitors Remain
Parlay Entertainment Chief Executive Scott White confirmed with IGN Wednesday morning that Mark Blandford's PEIC Acquisition withdrew from the bidding process. Click here to view the full story.
Parlay Receives Latest Expression of Interest
A new suitor has entered the Parlay Entertainment bidding process, following PEIC Acquisition's decision to withdraw its offer earlier this week. Click here to view the full story.
Eight Months Later, A New Face for William Hill
William Hill said today that it's eight-month search for a chief executive has ended. Ralph Topping, the bookie's former U.K. operations head, was appointed chief executive with immediate effect. Click here to view the full story.
Tough Press for Bill Hill on Topping Appointment
Mark Reed, analyst at Landsbanki, told Financial Times the following regarding Ralph Topping's appointment at William Hill: "Whilst not wanting to pre-empt or prejudge Ralph, it is hardly impressive that the process has taken so long. The internal appointment does not give us confidence that William Hill is looking aggressively at new markets, new technologies and broadening the investor base."
Unibet Calls Q4, Full-Year Performance 'Unsatisfactory'
Unibet revealed fourth-quarter and full-yearly post-tax profits of £2.3 million and £18.7 million respectively; however, Chief Executive Petter Nylander called the group's performance across 2007 "unsatisfactory." Moreover, Nylander said exceptional charges -- especially those associated with the termination of its cycling sponsorship -- and increased marketing costs "pressured quarterly earnings to unsatisfactory levels." Visit IGN later this week for detailed coverage.
Webis Holdings Posts £380,000 H1 Pre-Tax Loss
Betinternet owner Webis Holdings posted a first-half pre-tax loss of £380,000 compared to a £93,000 profit during the previous-year period. For the 26 weeks ended Nov. 27, 2007, turnover increased to £53 million, while cost of sales rose to £51.74 million from £42.08 million. Profit at EBITDA level totaled £43,000 versus £182,000 in 2006.
NetEnt Swings 32 Percent Jump in Full-Yearly Sales
Net Entertainment revealed a 32 percent jump in full-year sales to SEK 132 million from SEK 99 million, with operating profit up 24 percent from SEK 40.8 million to SEK 50.6 million. Post-tax profit totaled SEK 45.9 million, up 61 percent from SEK 28.5 million. NetEnt said it will apply for a listing on the OMX Nordic Exchange, Small Cap, in 2008.
Unibet Publishes 100 Million Euro Bond Prospectus
Unibet has publicized the prospectus for its 100 million euro bond issued in December 2007. It said it intends to complete the bond's listing on the Retail Bond list on the OMX Nordic Exchange in Stockholm tomorrow.
888 Shares Gain 40 Percent in February
Since Feb. 5, shares in 888 have gained nearly 40 percent on the London Stock Exchange. Momentum continued Tuesday as shares jumped 7.75p (5.0 percent) to close at 162 -- a 52-week high. Last week, 888 Chief Executive Gigi Levy called the group's fourth-quarter trading update "the best [888] had ever published since the company went public."
LCG Reports 119 Percent Rise in Full-Yearly Turnover
London Capital Group, operator of the Capital Spreads Web site, said Wednesday that full-yearly turnover rose 119 percent to £19 million versus figures from 2006, while EBITDA jumped 138 percent to £9.6 million. LCG Chief Executive Frank Chapman said the results reflect a "very strong performance" from its core products and markets. Chapman added that white-label deals made with Paddy Power and Betfair in 2007 "should bolster 2008 expectations."
ISWI Reveals 338 Percent Increase in Q4 Revenue
Interactive Systems Worldwide Inc. posted a 338 percent increase in fourth-quarter revenues to $241,000 versus $55,000 during Q4 2007. ISWI said this morning that the revenue jump resulted from the successful launch of its U.K.-facing SportXction betting platform in tandem with high-profile licensing agreements with Sportingbet and Ladbrokes.
Tabcorp Posts 22 Percent Jump in Post-Tax Net Profit
Australia's Tabcorp posted a 22 percent increase in post-tax net profits of A$273.4 million for H2 2007 versus the previous-year period, but said EBIT for its wagering business was adversely affected by the equine influenza outbreak, falling 8.9 percent to A$130.8 million.
Centrebet Profitable in H1
Centrebet has posted profits of A$5.9 million for the first half, and has projected full-year profits of between A$13 million to A$13.6 million.