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CONTAGIOUS GAMING TO ACQUIRE CHELBIS COMPANY LTD
2014-12-10

Software services provider Contagious Gaming has entered into an acquisition agreement for all of the issued and outstanding securities of Chelbis Company Ltd for a consideration of CAD$4,050,000 plus an earn-out consideration for the next two years.

Chelbis owns and operates established bingo destinations House of Bingo, Gone Bingo and Harrys Bingo along with bingo networks Best Bingo Network, Super Bingo Network and Fun Bingo Network. The company supports 14 white label bingo partner websites within its networks.

Contagious Gaming foresees significant synergies in the combined entity such as the ability to leverage the companys software platform and content library for deployment into Chelbis networks, while Chelbis CRM infrastructure will be used to handle Contagious Gamings requirements for its Goal Time product.

Peter Glancy, chief executive officer and director of Contagious Gaming said: "The Acquisition of Chelbis is expected to be materially accretive, diversifying our revenue streams, providing consistent cash flow and allowing us to capitalize on synergies which should ultimately increase margins and reduce costs. We look forward to completing the Acquisition of Chelbis and welcoming them as Contagious Gaming shareholders."

"We look forward to completing the acquisition and joining the Contagious Gaming team where we will be able to leverage our resources and create synergies to drive value for shareholders, added Madhu Avalur, chief executive officer for Chelbis.




BETFAIR SHOWS STRONG IMPROVEMENT
2014-06-11

The UK online gambling group Betfair has posted revenue up 2 percent to GBP 393.6 million for the year to end-April 2014, reportin Apuestas Deportivas Apuestas Rusia 2018 Online Bingo Rooms Play Bingo online g strong growth in sportsbook and Betfair US operations, offset in part by a weak e-gaming performance.
Much of the negative impact flowed from the company's decision to exit unregulated markets (GBP 13.3 million revenue impact from Greece, Germany, Cyprus and Spain) and the absence of a major international football tournament.
Reported profit before tax for the year was significantly up at GBP 61.1 million (FY13 loss: GBP 49.4 million).
EBITDA was up 24 percent to GBP 91.1 million (FY13: GBP 73.3 million) and underlying profit before tax was up 61 percent to GBP 61.1 million (FY13: GBP 38 million), with the improvement driven primarily by the cost savings announced in FY13.
Underlying basic earnings per share increasing by 57 percent to 49 pence (FY13: 31.2 pence).
The Group ended the year with a cash balance of GBP 209.8 million (FY13: GBP 168.1 million) and no debt.
The Board is recommending the payment of a final dividend of 14 pence per share. Together with the interim dividend of 6 pence per share, the proposed full year dividend is 20 pence per share (FY13: 13 pence).
Breon Corcoran, CEO, said in his management report:
"Our strategy is working. The emphasis on sustainable revenues and our product and marketing investments is paying off, resulting in record revenues and profits. The focus in FY14 was on creating a competitive Sportsbook and we are now entering an exciting phase of product development to leverage both our Exchange and Sportsbook to stand out in a crowded marketplace.
"Betfair has always been a unique betting company and our innovative sports betting products such as Cash Out and Price Rush are redefining the ways customers bet. Cash Out+ builds on the success of our Cash Out feature which allows customers to lock in profits before the conclusion of an event and has been used over 30 million times. This enhancement allows customers to partially cash out their bets and further differentiates our product.
"Price Rush is the first step of integrating our Exchange and Sportsbook and allows the odds on certain Sportsbook bets to be boosted by using the superior value available on the Exchange. Over 500,000 bets have been 'Rushed' so far and on average the odds on these bets were boosted by 24 percent.
The introduction of the Sportsbook, increased television advertising spend and the strengthening of our online marketing capability have broadened our customer reach and led to a 54 percent increase in the number of customers acquired in the UK and Ireland.
"As a result, we have seen three consecutive quarters of double digit revenue growth in sustainable markets. Our focus on efficiency has allowed operating margin expansion at the same time as increasing marketing and technology investment to approximately GBP 200 million.
"Our strong trading has continued into the new financial year and we look forward to building on this positive momentum during the World Cup that kicks off tomorrow and which will be an excellent showcase for our market leading products."


STRONG PERFORMANCE FROM WILL HILL IN LATEST TRADING UPDATE
2013-04-24

Online and land gambling group William Hill plc has published an interim management update on the group's performance in the 13 weeks to April 2, 2013, reporting significant strategic progress and continued profit growth.

Financial highlights in the period included:

* Group net revenue up by 15 percent and operating profit up 8 percent on the same period last year.

* Online made a major contribution, with net revenue up by 21 percent and operating profit up 13 percent.

* Retail net revenue grew by 8 percent, although operating profit was 3 percent lower.

* Sportsbook net revenue was up 47 percent.

* Mobile Sportsbook amounts wagered grew by a remarkable 145 percent.

* Mobile gaming net revenue grew by an outstanding 298 percent.


Key group operational and corporate highlights of the year-to-date have included:

* Development of online and mobile business continues apace

* Online operations including Australia contributed 45 percent of operating profit in the period

* Sportsbook amounts wagered surpassed OTC amounts wagered in all 13 weeks of the quarter, averaging 110 percent of OTC betting levels in the period.

* Mobile amounts wagered beat the company's GBP 15 million target, averaging GBP 18.2 million a week

* Mobile accounted for 35 percent of Sportsbook amounts wagered in the period

The group also reported the successful completion of significant corporate activity:

* GBP 424 million acquisition of outstanding 29 percent of William Hill Online completed on 15 April 2013

* GBP 373 million (net) raised from rights issue; completed on 5 April, with over 98 percent take-up

* GBP 459 million acquisition of Sportingbet Australian business completed on 19 March 2013

Ralph Topping, chief executive of William Hill, commented:

"It has been a successful start to 2013 in trading terms, moving forward with our strategy, expanding into Australia and taking full control of William Hill Online.

"It was pleasing to receive such clear support from shareholders for the William Hill Online acquisition and the rights issue. We also welcomed Sportingbet Australia into the William Hill Group in March and, having spent more time on the ground with the Aussie team, I am confident of its ability to take advantage of the opportunities in this key territory.

"Operationally, performance remains good, with strong gross win margins a feature of the period in both Retail and Online. We have two strong channels, with both responding well to opportunities and challenges.

Cheltenham results were not as good for us this year but just after the quarter end, Auroras Encore made the Grand National a major success for William Hill, even beating our record win achieved on the race in 2009 when Mon Mome romped home at 100-1. Both of these big meetings proved to be significant attractions for mobile bettors.

"Our app was downloaded 45,000 times on Grand National day and 51,000 times during the Cheltenham Festival, putting us at the top of the downloads league for both events.

"Mobile remains a high priority and is now a major contributor to Sportsbook's continued growth. We have beaten two of our three Sportsbook and mobile targets ahead of schedule and are focusing on making mobile more than 40 percent of Sportsbook stakes before the end of this year.

"Having grown our UK online market share from 10 percent to 15 percent over the last four years, we aim to increase our share and are making significant investments in marketing, technology and people to achieve that."

The company noted that William Hill Online continued to perform strongly, delivering 21 percent growth in net revenue and operating profit of GBP 43.3 million, 13 percent higher than the prior year. Playtech's non-controlling interest was GBP 12.6 million.

Sportsbook amounts wagered increased 30 percent in the period, with good growth in both in-play and pre-match wagering levels. Sportsbook gross win margin was 1.2 percentage points higher at 10.0 percent, reflecting favourable sporting results. As a result, Sportsbook net revenue grew by 47 percent.

Mobile Sportsbook amounts wagered grew 145 percent and accounted for 35 percent of the total Sportsbook amounts wagered in the period.

Gaming net revenue was up 2 percent, with Casino growth of 4 percent partially offset by declines in Bingo and Poker.

Mobile gaming net revenue grew 298 percent following the launch of a series of gaming mobile websites and apps in 2012. The prior year results included the contribution of certain markets that were closed to customers during the course of 2012. Total operating profit contribution from those markets in Q1 2012 was cGBP 2 million.

Online operating costs were 28 percent higher, with marketing investment representing 29 percent of net revenue in the period, broadly in line with expectations.

Other operating costs grew 17percent, largely driven by increases in headcount, trading and IT, depreciation and content costs.

The Group's net debt for covenant purposes increased by GBP 403 million to GBP 742 million at the end of the period.

Subsequent to the period end, on 5 April 2013, the Group completed a 2-for-9 rights issue, raising around GBP 373 million (net of expenses) with 98.23 percent of shareholders taking up their rights.



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