Ladbrokes and Paddy Power this morning released trading updates, in which both companies expressed that trading has remained in line with (or exceeded) expectations.
Gaming VC also joined the fray, saying today that trading for H1 2007 had been "positive" and that its full-year results are expected to be ahead of expectations. And earlier this week, William Hill said that its first-half earnings are expected to finish "marginally ahead" of last year.
Ladbrokes said it expects its telephone-betting business to generate in the neighborhood of £45 million ($90.5 million) in first-half operating profit. The telephone-betting business has been strengthened by increased traffic from high-rollers, the company said.
Ireland-based Paddy Power said favorable sporting results in the first half are expected to boost underlying profits 36 percent this year.
"Overall, things are going well for Paddy Power," NCB analyst Cillian McNally wrote in research note. "While the group is benefiting from favorable sports results in H1, the underlying growth momentum remains impressive."
Finally, Gaming VC said its move away from direct-mail campaigning toward "tailored online marketing" has reduced distribution costs without adversely affecting recruitment levels or revenues. If the trend continues, it said, it is confident that its core German business should perform ahead of current market expectations.