REPORTING Webis Holdings, a United Kingdom-based online gaming operator, announced its yearly results today with a group turnover of £117.2 million -- up £30.3 million from last year.
Other highlights from results, which covered a 52-week period ending on May 25, 2008, included that betinternet.com sports book turnover rose by 40 percent to £86.8 million, and European Wagering Services pari-mutuel turnover grew by 23 percent to £30.4 million.
These turnover increases helped Webis accumulate £2.75 million in gross profit, up from last year’s gross profit of £2.72 million, and a total operating profit of £34,000. In 2007, the operator had an operating loss of £33,000.
In a prepared statement, Denham Eke, chairman of Webis, attributed the improved trading performance to marketing activity, IT systems, capital expenditure and cost savings.
“The board continues to focus on these and other areas, all with the ultimate aim of enhancing the experience of new and existing customers alike,” he continued. “Trading for the first quarter of the current financial year was ahead of the board's expectations, and I look forward to reporting further progress in due course.”
PARTNERING Inspired Gaming Group announced today a strategic partnership with NextGen Gaming, an Australia-based gaming supplier.
The partnership allows the server-based gaming specialist to use NextGen slot products across its Asian casino estate and United Kingdom leverage buyouts, which will bring electronic-table gaming and slots on the same terminal.
"Partnering with NextGen Gaming allows us to introduce more competition and variety into the U.K. LBO market,” said Norman Crowley, co-chief executive of Inspired, in a prepared statement. “More importantly, it also allows us to continue to revolutionize the Asian casino market by introducing slots onto gaming machines, which to date have only offered table games."
UP AND DOWN Third-quarter results for Leisure & Gaming, a London-based online betting and gaming group, show that gross profit was up while the amount wagered by players was down.
Wagers collected this quarter were reported at 13.3 million euros, down 5.7 million euros when compared to third-quarter results in 2007. Gross profit was reported at 900,000 euros, up from 500,000 euros reported in 2007.
According to the company, these figures matched management expectations.
“The group has now recorded four quarters of profitable recovery, indicating that our business has turned the corner following its extensive restructuring in September 2007,” said Richard E. Creed, chief executive of Leisure & Gaming, in the report.
LAUNCHING Chartwell Technology Inc. announced today that it will be powering Extrabet’s first online casino licensed by the United Kingdom Gambling Commission.
Extrabet, a subsidiary of IG Group Holdings, will market the IG Sport casino through its Web site, though it was not specified when the casino would officially go live.
Stuart Land, head of IG Sport, said in a prepared statement that he has witnessed a growth of fixed odds and sport spread betting.
“We also recognize the appetite for other modes of online gaming and thus the benefits of increasing the offerings on our sports platforms,” he said. “With the addition of the online casino we are now a step nearer to our long term goal…”
Nambling Notes is .