BUSINESS

Codere profits up; Boylesports restructures; Chilipoker merges with Poker770

TAGs: Boylesports, ChiliGaming, Codere, Poker770

codere-chilipoker-boylesportsSpanish multinational gaming operator Codere saw revenues rise 22% to €1.37b in 2011, according to year-end reports published on Wednesday. Earnings rose 20.2% to €289.7m, while net profits were up 78.2% to €52.2m. International operations were key to Codere’s success, as domestic earnings fell by more than half to €19.6m. Thank heavens for Argentina, where Codere’s earnings were up 22% to €165.2m, and Italy, where revenues were up almost two-thirds. Meanwhile, Codere’s legal tussle with online gambling operators such as PokerStars and Sportingbet continues unabated. Codere has appealed the Jan. 16 Barcelona court rejection of Codere’s attempt to have Spanish ISPs block Stars from accessing the Spanish market while its application to offer online poker in a regulated Spanish market was pending. Seriously, guys… Let… it… go…

Irish bookies Boylesports have announced a dramatic restructuring of the business to emphasize internet operations. On Thursday, CEO John Boyle revealed plans to separate the 176 retail outlets in Ireland from the online operations, which will be redubbed Boylesports Online. Head of online Keith O’Loughlin was named as CEO of the new division. Boyle stressed that the company’s “loyal shop customers in Ireland are very important to us, but we also need to consider our customers, and potential customers, in markets further afield.” Further afield, in this case, is apparently code for Asia.

Chiligaming has merged its iPoker skin Chilipoker.com with European operator Poker770 in a bid to purify itself ahead of expected scrutiny by US regulators. The move follows last week’s acquisition of Chiligaming’s B2B platform by Bally Technologies, which came after Chiligaming entered into a partnership to offer that platform to US casino operator Golden Nugget if/when US regulations permit such activities. Chiligaming’s French players will be unaffected by the merger but all other markets will be forcibly herded towards Poker770. Chiligaming CEO Alexandre Dreyfus told eGamingReview that the merger was designed to rid the company of any lingering taint from continued operations in unregulated markets. “We decided to say okay, let’s focus on the future for us which is our brand, our technology and our partnership with Bally in the US.”

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