Culture Crackdown -- British Secretary of State James Purnell has published his “white list” of countries from which the United Kingdom will accept advertising for gambling websites. Officials have stated that the list will not be a long one, and will be limited to those countries who enforce acceptable regulatory standards for advertising. All companies from non-listed jurisdictions will not be allowed to advertise during televised sporting events under the authority of England’s Department of Culture, Media and Sport. Click here for the full story.
Moving On -- In a report describing earnings for the first half of 2007 gaming specialist Fluxx AG has indicated an increase of earnings outside of its native Germany as a result of the success of its subsidiaries in Spain and the United Kingdom. The company showed a jump in earnings to 31.3 Million Euro from 23.5 million over the same period in 2006, and a 227 percent rise in Earnings Before Interest Taxes Depreciation and Amortization. FLUXX’s expansion is expected to continue, as legislation in the new State Treaty on Gaming is expected to force it, as well as other operators, to expand into new markets.
They Can Come In -- The United Kingdom’s Department for Culture, Media and Sport recently announced that Alderney is one of two jurisdictions that exercises marketing limitations that meet the country's strict standards. As a result, companies operating out of Alderney will be some of the few able to advertise their services after new regulations take effect on September 1, 2007. The only other way operators will be able to advertise within the U.K. is if their jurisdictions are placed on the exempted “white list” by the U.K. secretary of state. David Jeremiah, chief executive of the states of Alderney, says that the notification was good news for the Channel Island, which was always convinced that it had met required standards.
Announced -- Cryptologic announced today that its Board of Directors released information on the company’s quarterly stock dividends. Cryptologic stock has earned a dividend of $0.12 per share, which will be paid out on September 17, 2007 to shareholders of record as of September 10, 2007.
Ups and Downs -- Although Ladbrokes reported first-half earnings in line with recent high expectations, interim profits in its betting shops dropped as over the counter wagers were outweighed by bets placed at remote fixed odds betting terminals. Total company profits rose to 195 million pounds, up from 151.3 million in the same period in 2006, but an 11.6 percent drop in retail operating profit kept this number from rising any higher.
Pushing Through -- Betting company London Capital Group Holdings has reported that the strength of its main brands led first-half profit to more than double over the same period in 2006. Profits for the company rose to £3.53 million, up from £1.66 million over the same period a year ago. The company has stated that the rise may have come as a result of massive increases in the number of bets taken. With spread bets per day rising 63 percent, and live bet client accounts rising 93 percent.
New Sheriff in Town -- After the recent filing of a report by ten of England’s leading sporting bodies, the regulatory unit of the British Horseracing Authority (BHA) could soon become the model of a nationwide gambling enforcement agency. A report was recently filed with the U.K. Gambling Commission comparing the threat of betting to that of doping, and calling for the formation of a regulatory agency to fight the problem. BHA has backed the initiative, particularly in light of recent events revolving around a possibly-fixed ATP tennis match. Nic Howard, chief executive of BHA, is assisting ATP officials in the early stage of the investigation.
Stock Watch -- On the LSE, Sportingbet was down 4p to 47.50, 888 was down 3.25p to 114.75 and William Hill was down 10p to 611.