With the release today of its Q2 2008 results, Sportingbet proves it is back in the black, following a trying year for the London-listed company. Highlights for the period ending Jan. 31 include a 29.5 percent increase in wagers to £364.7 million (2007: £281.6 million); while group operating profits rose 275 percent to £7.5 million (2007: £2.0 million) in the quarter. In addition, the group saw a 29.6 percent increase in its sports division, a 29.1 percent increase in casino and a 34.1 percent in poker, all year on year. CEO Andrew McIver said today that while he is pleased with the results, he is even more confident in the company's full-year turnout.
U.S.-based lawyer Lee Rousso, who last July filed a challenge against the State of Washington for its ban on Internet gambling, has finally been given a court date. Rousso, who is also running for governor of Washington, will present his case on April 25, 2008, and said he plans to file his brief before March 28.
Irish gamblers spent 5 billion euros in 2007, with 10 percent of that figure owed to the online sector at 500 million euros, the Irish Examiner said today. Betting exchange Betfair, for instance, had a turnover of 15 million euros in its year-end to April 2007, and has said it expects to double its Irish business between April of 2005 and 2008, according to the report. The news come on the tail of Irish betting shop owner Paddy Power boasting pre-tax profits of 75 million euros.
International All Sports Limited on Monday said it would seek a suitable buyer for its failing Canbet.com venture, which caused an 11 percent decline in half-year operating revenues to AUD$23 million. Results Canbet.com included operational losses of $4.3 million in the period, 20 percent higher than last year. The company blamed issues with Canbet's software functionality, inexperience in product risk management and an immature client database for the division's failure. On a brighter note, the core business, IASbet.com, climbed 28 percent over the previous year to $17.9 million.
Britain's Sunday Telegraph this week revealed a 40 year-old assassination plot against Rolling Stones front man Mick Jagger. The report said that following a dispute with the motorcycle gang the Hell's Angels over Jagger's 1968 decision to discontinue using the Angels as concert security, the gang reportedly hatched a plan to kill Jagger at his Long Island, N.Y., home. Fortunately for Jagger, however, the assassins' planned to attack by sea, but were hit by a storm and couldn't complete the attempt, according to the report. The plot was revealed during an interview with a former FBI agent during the filming of the BBC's The FBI at 100, which will air March 11.
On the London Stock exchange today, 32Red was down 3.0p to 30, BSkyB was down 5.0p to 550, FUN Technologies was down 3.50p to 163, Unibett was down 8.50p to 160.50 and William Hill was down 7.25 to 366.25.