Genting Raises Stake in Stanley Leisure
Malaysian conglomerate Genting Berhard has increased its stake in British gaming company Stanley Leisure Organisation Plc (SLY.L) from 12.7 percent to 14.9 percent by purchasing 2.9 million shares in the company for an undisclosed amount. Genting's commitment to Stanley came under question last month after the conglomerate raised its stake in rival gaming group London Clubs International Plc.
Record Year For Svenska Spel
Svenska Spel, the Swedish National Lottery, has announced its financial figures for 2004, a record year for the company. Gross sales reached 2.2 billion euros on the year, beating last year's mark by 3.5 percent. Revenue rose 2.7 percent to 530 million euros, due mostly to growth in casinos and Internet gaming. Internet sales rose by 56.8 percent during the year to 85 million euros.
Betbull Posts Loss below Expectation, Refocuses
Betbull - The European Betting Exchange Plc (BETB.VI), has reported its financial results for 2004, its first year of existence. The company, a joint venture between betandwin.com Interactive Entertainment AG and Fun Technologies Plc (formerly know as CES Software Plc), has posted a net loss of $3.5 million euros for the year, a figure that is significantly below market expectations. Betbull says its expenses and costs were so low because its first marketing attempts yielded relatively low customer activity, and the company therefore drastically reduced its direct marketing spending. Analysis conducted by Betbull in continental Europe suggests that the target customer base in continental Europe is not ready to begin using betting exchange formats. For now the company will focus on partnering with bookmakers and racing associations that want to expand their offerings with a betting exchange product.
Reports Released
Boss Media's (BOSS.ST) financial report for the fourth quarter and whole year ended Dec. 31, 2004 shows that the company continues to experience strong growth. Net sales for the quarter increased by 72 percent as compared to the same period last year to reach US$8 million, while profit after financial items rose to $2.4 million and royalty revenues rose to $5.3 million. For the whole year 2004, net sales increased by 61 percent to $30.6 million, while profit after financial items rose to $11.1 million and royalty revenues rose to $17.7 million.
Boss Media - Annual Report