BUSINESS

Sportingbet sees revenue gains; Betfred revamps mobile offering; Playtech acquires Ash Gaming

TAGs: Ash Gaming, Betfred, Playtech, Sportingbet

news in brief2Sportingbet has seen performance fall in line with expectations during the first part of the fiscal year. A “robust start” saw sports net gaming revenue (NGR) up 9% on a like-for-like basis and the total NGR increase 37%. Australia now represents 47% of the group’s NGR and following disposal of the firm’s Turkish site 53% of business is now from regulated territories. Just yesterday, Sportingbet was successful in applying for a licence to operate in Denmark and has submitted an application to the Spanish gaming authorities. The firm added: “With regulatory change well under way in Europe, and not withstanding the economic outlook, we are confident that the benefits of regulation, with increased advertising opportunities, improved payment processing and a stable business platform, will drive profitable growth in the medium term.”

Betfred has revamped its mobile product and at the same time launched a mobile casino. It will benefit from IGT’s mobile casino games such as Rainbow Riches, Cleopatra and Monopoly Multiplier. This is in addition to the sportsbook that will offer easier navigation and quicker access to markets.

Software provider Playtech has gobbled up another gaming industry company after reaching a deal for casino game developer Ash Gaming. The deal will be for an initial £15.5million with a deferred contingent consideration of up to £7.5m. £6m of this will be paid on the yearly anniversaries of the deal with £1.5m contingent on the company producing an agreed number of games over the three years. Playtech believed there are “significant combined benefits to be gained from this purchase, including greater revenue opportunities and enhanced economics across the value chain.”

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com