Q1 PROFIT UP
For the first quarter of 2009,
Leisure & Gaming's gross profit jumped 33 percent year-over-year to 2.8 million euros.
Despite the profit increase, the land-based and online betting operator proposed a reduction in its share premium account in order to pay dividends to shareholders or buy back company shares at a later date.
When compared to 2008's first quarter, its amounts waged increased by 36 percent to 42.1 million euros. Net win also saw a boost of 38 percent to 8.7 million euros.
Looking ahead, Richard E. Creed, the company's chief executive, said in the earnings statement that Leisure & Gaming will continue to seek growth in the Cypriot estate while awaiting regulation clarity to permit Greek land-based outlets.
"We are poised to take advantage of this opportunity when it arises," he added.
ANTIGUA UPDATE
Antigua's Financial Services Regulatory Commission said it has launched a program to monitor online gaming licensee compliance requirements, which includes United Kingdom's Department of Culture, Media and Sport's white-listing criteria.
"We view the white-listing criteria as a minimum threshold only," said Kaye McDonald, Antigua's director of gaming, in a statement.
"Our objective is not to simply satisfy minimum requirements, but rather we work in collaboration with our licensees to set the bar much higher through continuous implementation of evolving best practices," she added.
BOOMING
Pearl Research, a business intelligence and consulting firm, is forecasting that China's online games market will exceed $5.5 billion in 2012.
The findings outlined in its new study, "Games Market in China," show that the market grew more than 63 percent to $2.8 billion in 2008 alone.
Pearl Research named six operators -- Tencent Inc. , Changyou.com Ltd. , The9 Ltd. , Netease.com Inc. , Shanda Interactive Entertainment Ltd. and Giant Interactive Group -- who brought in revenues of more than $200 million in 2008.
According to the study, Netease's "Fantasy Westward Journey" drew the most users with 1.8 million concurrent users.
Additionally, the research group said that Chinese game operators have seen "little effect on their business" from the economic downturn and have an optimistic outlook for 2009.
NEW INCENTIVES
Sports Betting One on One, an Isle of Man-based sports betting platform, is offering new customers the option of owning 30 company shares.
In a statement released today, the company, which launched in November 2008, said it wants to give new registrants the "opportunity to become part of SB1on1’s growth strategy."
"We are delighted to welcome registrants to actively participate in SB1on1’s success story as we strive to become the stock-exchange of sports betting," said Stephen Bamford, the company's chairman.
DONATING
Gtech Corporation has upped its support for a campaign pushing California Proposition 1C by making a $1 million donation, according to the Los Angeles Times.
If passed, the proposition would allow the financially troubled state to borrow against future lottery sales.
Gtech supplies the California State Lottery with its gaming systems, and the proposition could boost the Rhode Island company's share contract by $77.4 million, The Times said.
SPONSORING
Last week England & Wales Cricket Board, or ECB, named Betfair its official betting partner in addition to being an official betting partner of The Test Match Grounds.
Brokered by Essentially Group, the partnership allows Betfair to place the ECB logo on items and also includes perimeter boards, tri-vision sight screen and replay screen advertising, product sampling and promotional activity at the eight Test match grounds across English cricket.
WPC 2009 LAUNCHED
For the fourth time, live and online poker businesses will collide at the World Poker Congress, or WPC.
Produced by Clarion Gaming, the fourth annual event where executives, tournament directors, poker room managers and operators meet takes place in a new location -- Porto, Portugal -- June 24-25.
Confirmed speakers include David Carrion of Cirsa, Bram Cops with Split Aces, Paul Davis of Chexx IOM as well as a closing keynote from two of the industry's well-known figures: Steve Lipscomb, WPT Enterprises Inc. 's chief executive, and Jim Ryan, PartyGaming's chief executive.
"The World Poker Congress is simply not like other conferences," Mr. Lipscomb said. "In attendance are the decision makers from the most exciting companies in the poker arena -- and they are there to do business."
More information including a frequently updated list of speakers and the conference program can be found at www.worldpokercongress.com.