Betfair Gets Royal Honor
Betfair, the world's leading person-to-person betting exchange, received an honor this month that is perhaps the biggest feather in its hat to date: a Queen's Award for Enterprise, in the Innovation category, for 2003.
The award means Betfair can carry the Queen's Award emblem on its site for the next five years.
A Queen's Award is given by the Queen, on the recommendation of the Prime Minister, and following a full assessment by the Department of Trade and Industry.
Ladbrokes Misses Mark on Celebrity Reality Show
Ladbrokes had to pay out at 10-1 odds on Danniella Westbrook quitting the jungle camp in television's "I'm A Celebrity... Get Me Out Of Here!"
Convinced the contestant was faking her distress to win the sympathy of the audience and further her career, the bookmaker offered the hefty odds last week.
Company spokesman Warren Lush said it was a risk worth taking at the time.
"We hold our hands up and say that we got this one wrong," he said. "We never thought she would quit, we thought it was all an act. We think Danniella has done what she has to do, however, she has increased her profile and is now firmly back in the limelight."
Stanley Leisure Buys Casino in London
Stanley Leisure, which operates Britain's fourth biggest betting-shop estate, agreed to pay £36.25 million in cash to London Clubs International for the Palm Beach casino in London’s Mayfair.
The move, which has to be approved by LCI's shareholders at an extraordinary meeting May 19, represents a partial success for Stanley's original ambitions. (The Liverpool-based company offered £240 million to purchase LCI outright last year, but was quickly rebuffed.)
Although LCI's financial problems have improved in recent months, the need to reduce its debts has prompted the Palm Beach disposal, and the £25 million sale and leaseback of its 50 St. James Casino in London, which was also announced yesterday.
Palm Beach, a well established mid-market casino, has undergone a £7 million structural refurbishment, which Stanley's directors believe will improve the level of trading to produce a profit on the purchase in year two.
O'Callaghan Saga Continues for Coral
Terry O'Callaghan, who claims to be owed £259,000 by Coral, is preparing for a another round of legal battles with the company over a football bet, dating back to September 1996; he's also seeking interest of £131,000.
His immediate priority is objecting to Coral's betting permits before magistrates in Barking, where the firm has its headquarters, on May 15.
O'Callaghan, 59, is determined to press ahead with the hearing, in which he is being represented for the first time by a QC, despite recently being served with an order from Coral for backdated costs of £29,500 relating to a string of court appearances over the last six years. Coral also want interest of a further £13,500.
From the outset, Coral has refused to pay out on the bet, which correctly predicted the scores of four matches. The company insists the betting slip was never filmed by the shop manager and, under their rules, is void.
Two months ago, O'Callaghan, who has already paid £56,000 in legal fees, failed to convince a judge at Cardiff County Court that his case should be heard under human rights law.
Blue Square Bucks Trend, Doesn't Issue Profit Warnings
Blue Square, the online betting operator, has reversed a trend that recently forced England's three major bookmakers to issue profit forecast warnings last month.
The Rank Group, whose chief executive, Mike Smith, has worked for all "Big Three" bookmakers, bought Blue Square in January, and a statement at Tuesday's annual meeting said: "Trading since completion has been good, with both improved turnover and margins."
No figures were released, but Peter Reynolds, director of investor relations, said losses incurred in company with other bookmakers at the Cheltenham Festival and Aintree had been more than compensated for by growth in the rest of the first quarter.
The company statement pointed out that a one-off exceptional charge of approximately £6 million relating to the Blue Square purchase would be incurred in the first-half balance sheet.
Real Madrid Heavy Favorites after Big Wins
Real Madrid are odds-on for the Champions League after their semi-final first-leg win over Juventus at the Bernabeu.
Goals from Brazilian duo Ronaldo and Roberto Carlos gave Real the advantage, but David Trezeguet's goal for Juventus at the end of the first half means the tie still looks wide open with the Spanish outfit holding a 2-1 advantage.
That's not a view shared by the bookies though, with Bet365 cutting Real to 10/11 from 11/10, while Skybet went 5/6 from evens.
Bet365 made the Spanish superstars 4/9 to qualify for the final while Juve are 13/8 to reach Old Trafford and 11/2 to lift the trophy.
The second semi-final sees an all-Milan derby with both sides 7/2 in the outright lists.
Ladbrokes Outraged by Betting Review Policy Change
Ladbrokes condemned a policy change, allowing bookmakers to use betting exchanges to hedge on-course money, announced earlier this month as part of the review of betting policies by the U.K. Levy Board.
Chief executive Chris Bell said it was like driving "a coach and horses through tried and tested betting legislation" after Levy Board chairman Rob Hughes used his casting vote to make the change. "This encourages betting with unlicensed individuals, many of whom are located overseas, and opens the floodgates for illegal betting," he added.
ISWI Teams up with BSkyB
Interactive Systems Worldwide Inc. announced that its wholly owned subsidiary, Global Interactive Gaming Ltd (GIG), concluded an agreement with Sky Bet.
Under the agreement, GIG and Sky Bet will launch ISWI's patented SportXction wagering software on BSkyB's digital television platform, a potential market of 6.6 million households, in August of this year.
ISWI's SportXction wagering application will be made available, through Sky Bet's Sky Bet Live product offering, to all digital subscribers of BSkyB's Sky Sports 1 channel. The system will deliver to Sky Bet Live viewers watching live Barclaycard Premiership games dedicated information on in-run wagering, wagering-related commentary and the ability to place wagers interactively using a remote control.
The betting propositions available, which change frequently throughout the course of the sporting contest to reflect specific game circumstances, are shown on the bottom of the viewing screen. The SportXction(TM) application will be launched in August, when the next season of the Barclaycard Premier League commences.