The Online Gaming Industry
The Company only works in markets where online gaming is legal, or where regulatory legislation of online gaming is imminent. Online gaming is legal in the UK, and France, Italy and Spain are in various stages of introducing legislature to regulate online gaming. The Company believes that the remaining 23 European Union Countries will follow this pattern and legislate online gaming in order to avoid being in default of free trade rules, and to reap the tax benefits. Various Countries such as South Africa have already legalized online gaming, and other Latin and Pan-Asian countries are expected to announce similar intentions in the near future. The Company’s development and expansion plans will follow the countries embracing online gaming regulation.
A recent PriceWaterhouse Coopers report estimated that the EMEA (Europe, Middle East and Asia) will continue to host the lion’s share of the world’s legal online gaming revenues, growing at an annual compound rate of 10.9% through to 2012, reaching US $6.2 Billion. The UK alone had online gaming revenues of US$2.3 billion in 2007, making it the world’s largest legal market. Global online gaming revenues are expected to grow at a compound annual rate of 13.5% through to 2012.
Industry News Articles
Online Gaming Software Company Entraction Revenues Soar
Online gaming software developer Entraction Holding AB has released its interim financial report for the first half of 2009 showing a 44.9 percent increase year-on-year in net sales to $31.97 million.
The...
PartyGaming to enter French market with B2B deal
PartyGaming will be launching online poker in France next year when the market regulates through a business-to-business partnership to achieve scale as quickly as possible.
Speaking during the analyst presentation...
Betfair gets clearance from France ahead of liberalisation
BETFAIR wil be able to apply for a French online betting licence for its flagship bettting exchange product ahead of the opening of the country's online gaming and betting market in 2010.
The bettting...
William Hill Releases First-Half Results
British gambling group William Hill has released its interim results for the previous six months showing a five percent year-on-year rise in net revenues to £515.5 million from £488.8 million.
However, the difficult...
Ladbrokes poised for new Danish casino, poker, sports betting licence
LADBROKES will apply for an online operating licence in Denmark if the licensing framework currently proposed by the Danish government goes ahead, EGRmagazine.com can reveal.
The Danish...
Betfair revenue, EBITDA up more than quarter at year end
BETFAIR’s revenue grew by more than a quarter in 2009, the company’s glowing year-end results revealed, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew 29% to hit £72m.
...SKY BET managing director Richard Flint hailed the 9% rise in the operator’s revenues announced this morning as proof that the company is winning market share off its competitors, as a rise in online bets cushioned a drop in TV gambling.
Sky Bet revenue for the 12 month...
Leading betting and gaming provider Bwin Interactive Entertainment AG has released its financial results for the first quarter of 2009 showing a 11.1 percent year-on-year rise in net gaming revenues to a record €102.1 million.
The Austrian firm reported that this figure...
The world’s largest land-based gaming company, Harrah’s Entertainment Incorporated, has established a new online subsidiary under the leadership of Mitch Garber, the former Chief Executive Officer for leading virtual gaming operator PartyGaming.The Las Vegas-based giant revealed that...
In the UK, the Gambling Commission has released the results of detailed research showing that the remote gambling market in the nation was worth £896 million last year.
In compiling its figures, the regulator revealed that it took detailed statistics from a range of sources including...
A survey conducted by Manx eGaming Association (MeGA), for the Isle of Man’s Department of Trade & Industry (DTI) showed that the country’s eGaming sector had enjoyed growth to the tune of 30% in 2008. The same survey is also forecasting growth of 40% in 2009.
The Isle...
Ladbrokes, the UK’s largest online and land gambling group is reporting a full year operating profit despite the current recessionary pressure.
Excluding the high stakes gamblers, Ladbrokes operating profit increased to GBP 243.8 million in 2008.
The...
Comparing 2007 to 2008, the Swedish based poker network Entraction showed net turnover increased from SEK234.6m to SEK346.1; an increase of 48%.
The company posted earnings of SEK54.7m (EBITDA). After posting a loss of SEK33.2m in 2007, the company posted earnings after tax...
Reporting its strongest quarter to date, Betsson, a Swedish gaming and betting operator posted revenues to SEK321m. That is 69% over the same period last year at SEK189.8m.
Operating profits rose from SEK43.5m in 2007 to SEK92m in 2008.
The quarterly pre...
Leisure and Gaming released its fourth quarter results showing gross profits of $2.59 million, an increase over the same period last year where gross profit was $2.33 million. The results also showed the net win increasing by 5% to $8.44 million from the $8.05 million reported for the same...
