UKBetting Has Profitability within Its Sights
Peter Dubens, vice-chairman of AIM-listed UKBetting, said Tuesday that the company is hoping to return a profit "across the whole of the company" this year. The statement was made Tuesday following the release the company's financial results for 2003, which showed strong growth as a result recent mergers.
Turnover was up 39 percent to £54.5 million and gross profit more than doubled to £9.1 million.
Nevertheless, Dubens said there's room for improvement.
"There is still a lot to be done," he said. "The gaming sites are not fast enough and we need more product, and the content needs to start earning more revenue. But we now have discipline in the business, and we are on the right lines."
THRC to Launch as Free Channel
British punters longing for the return of live TV coverage of horseracing got good news Sunday when The Horse Racing Channel confirmed that it will offer its programming as a free-to-air service.
A spokesman for the group said the channel, originally intended to be subscription-based from the outset at around £20 per month, would be on air "within the next couple of weeks."
The channel will go head-to-head with the revamped At The Races, which will also be free and intends to launch in June.
Victor Chandler Targets Ireland
Betting firm Victor Chandler launched tax-free online betting services in Ireland and plans to create 50 jobs in the Republic over the next 18 months.
Along with creating the new ".ie" domain presence, the Gibraltar-headquartered company plans to offer Web-based gaming. It's also looking to make a "significant" bricks-and-mortar investment in Ireland.
Web-based games offered on the Irish Web site include an online casino, an online poker room, a simulated soccer betting game, a penalty shoot-out game and a wheel of fortune game.
Victor Chandler currently offers sports betting to online, telephone and retail customers.
London Police Pursue Betting Shop Burglar
Police are hunting a man who raids betting shops and orders staff to lock themselves in the toilet while he robs the till.
They have closed-circuit camera pictures of the robber, who has struck not only at William Hill, in Waterloo Road, Epsom, but 10 other betting shops in south London and Surrey.
The robbery at William Hill took place June 6 last year, but since then there have been a succession of others, the last on March 25 in Tooting.
The Association of British Betting Shops has put up a £5,000 reward for information leading to his conviction. Police are warning all other betting shops about the raider.
Italian Football Club Raided
Police raided the headquarters of 12 Italian football clubs last Wednesday, including four from Italy's top league, as part of a nationwide investigation into an alleged betting scandal masterminded by the Neapolitan Camorra crime organization.
The investigation stemmed from telephone taps suggesting attempts to fix matches in Italy's three top leagues.
Thirteen people, including five players and a convicted Camorra mafia boss, were being investigated in the case, the ANSA news agency reported.
They faced possible charges of criminal association and sports fraud. Italy's anti-mafia police carried out the raids in 14 cities and seized documents and files from 12 club offices, according to a statement from AC Siena, one of the top-tier Serie A clubs visited.
eBet Agrees to Discounted Price for Bet Worldwide
eBet Limited this week said it reached an agreement for the early repayment of amounts due on a deal made in November last year. The deal allows Sports Acumen to pay a discounted price for Bet Worldwide Pty Limited in exchange for an accelerated payment schedule.
eBet will receive payments over 36 months, instead of 60 months. The renegotiation also included AU$1.4 million to be received within 12 months from the date of sale, instead of 27 months, with a further $0.6 million paid on an agreed schedule.
eBet has operations and contractual arrangements in Australia, New Zealand, Greece, Singapore the Philippines and the United States.