Tag Archives: poct

£4.8m point of consumption bill blunts 32Red’s record growth

Gaming operator 32Red has posted a record revenue performance for 2015 with a 52% increase in net gaming revenues for the year – however its figures have been blunted by a £4.8m point of consumption tax bill. The firm saw 35% increase in its core 32Red revenues to £41.7m, a 54% jump in its Italian business to £1.7m and a …

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Industry Snapshot – Remote Gambling

The remote gambling sector in Great Britain has undergone a period of great change in recent times. The Gambling (Licensing and Advertising) Act 2014 introduced in November 2014 meant that from then on overseas operators offering services to customers in Great Britain needed to obtain licences from the Gambling Commission and undergo consistent regulation. The introduction of the point of …

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Industry Snapshot – Betting Shops

With the industry focus on live in-play betting, and the ever increasing focus on mobile betting as a whole, the natural assumption would be that betting shops suffered in 2015. Indeed, one of the latest BetVictor adverts promotes the idea of placing a bet at a shop as an outdated and somewhat horrifying experience. Here’s an analysis of how betting …

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Jim Mullen – Betting industry needs ‘clear air’

Ladbrokes Chief Executive Jim Mullen has called on the government to give the betting industry some respite in an interview with the Daily Telegraph. In just over 12 months, the industry has seen the introduction of a point of consumption taxation, a 5% increase in machine gaming duty to 20%, new restrictions on gaming machines in the shape of the …

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Betfair – Paddy Power merger on course for Q1 2016

The merger between Paddy Power and Betfair is all set to be completed early next year, according to Betfair CEO Breon Corcoran. During the exchange operator’s half year results, the company confirmed that all relevant regulatory filings have been submitted and the merger is on track for completion in Q1 2016, subject to shareholder and regulatory approval Betfair appears to …

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32Red takes encouragement from underlying performance

A £2m bill for the UK’s Point of Consumption Tax and an increase in marketing in Italy has put a dent in 32Red’s profits despite the online gaming firm’s improved underlying performance. The company has reported EBITDA of £1.2m for the first half of the year, compared to £2.3m in H1 2014, with profit before taxation plummeting to £100,000 from …

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Revenues drop but EBITDA up for Bwin.party’s H1

Bwin.party CEO Norbert Teufelberger has not ruled out recommended a takeover offer from GVC Holdings, but wants the firm to work on its bid. Until then, the board is continuing to support 888 Holdings’ original bid. He commented: “We have been working with GVC and their advisors to try and help them resolve certain key aspects of their proposal, something …

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William Hill cites tax increases for £21m drop in profits

William Hill CEO James Henderson has described the past six months as a period of ‘significant regulatory and taxation change for the industry’ as the bookmaker reported a 30% drop in profits after tax to £69.5m. Despite group net revenue marginally growing, even against 2014 World Cup comparatives, operating profit dropped 12% to £155.7m for the first half. Group net …

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888 delivers record breaking 2014 performance

888 Holdings has announced ‘another record-breaking year’, as the operator posted its 2014 full year performance, with reported growth on all top line metrics. The igaming operator was able to record revenue increases in both of its key product divisions, as B2C saw a 11% jump to $391 million (FY 2013: $352 million) and B2B increased 32% to $64 million …

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London Baby: Sponsor Profile – Realex Payments

Its time to meet our latest London Baby Sponsor Realex Payments! Corporate Sales Manager Ian Nicholson explains what his firm has in store for ICE Totally Gaming and London Baby! SBC: What key topics and discussion do you feel will dominate the industry in agenda in 2015? Ian: Regulation will continue to evolve in many regions as governments seek to reap tax revenues from online gaming …

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