Europe fades in final furlong at Sportingbet
Online sports betting and gaming group Sportingbet said the trends seen in the first nine months of its financial year continued into the final quarter, meaning full-year results will be in line with market performance.
Online sports betting and gaming group Sportingbet said the trends seen in the first nine months of its financial year continued into the final quarter, meaning full-year results will be in line with market performance.
The group's core Australian market remained strong in the final furlong, with net gaming revenues up 93% year-on-year, a gain of 24% on a life-for-like basis.
The integration of Centrebet with Sportingbet Australia was successfully completed one month ahead of schedule in June. As an additional bonus, the group reckons the level of synergies realised from the merger is significantly ahead of original expectations.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
If everything is bonza down under, the situation is rather different in Europe, where along with the general dismal economic environment the group had to cope with its Spanish operations being shut for the first 35 days of the final quarter as the authorities prepared for a new gaming licensing regime.
European net gaming revenues were down 41% year-on-year, an 18% slide in like-for-like terms.
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Will Labour change the rules on pension tax relief?
Speculation is mounting that tax hikes could be announced in Rachel Reeves’s first Budget. Will pension tax relief rules be reformed?
By Katie Williams Published
-
NatWest shares surge after profits beat expectations
NatWest, which has been one of the FTSE 100’s best-performing stocks this year, notched up profits of £1.7bn during the quarter
By Chris Newlands Published