betbull gibt Zahlen bekannt
Betbull plc ('Betbull') announces the release of group consolidated audited financial statements
1. Financial highlights for the year
- Betbull reports improved operating and EBITDA margins in 2007.
- EBITDA for the year was €0.03 m compared to €(0.91) m in 2006. While operating loss was reduced to €(1.26) m from €(1.97) m in 2006. Before share benefit charges adjusted EBITDA for the year was €0.15 m compared to €(0.27) m in 2006.
- Gross gaming revenue amounted to €78 m in 2007 (€89 m 2006) while net gaming revenue reached €13.32 m (€14.95 m 2006)
- Loss after tax amounted to €1.91 m in 2007 (€ 2.57 m 2006) resulting in €0.22 loss per share (€0.35 2006)
- Betbull maintains a healthy Cash Position of €7.70 m as of 31 December 2007 (€ 8.00 m 31 December 2006).
Expenditures include start up costs incurred in new business development, particularly in Spain.
2. Business highlights for the year
Germany: Germany has continued to provide strong revenue to the group in the face of difficult legislative circumstances.
Spain: The JV agreement with Grupo Orenes for operating retail betting in the Province of Madrid, has been replaced by a JV agreement with bwin Interactive Entertainment AG. A subsidiary company (Betbull Bwin Espana SA) has been created, and has been able to submit a license application to the Autonomous Community of Madrid.
Italy: Betbull is continuing to cautiously explore business development opportunities, in addition to exploiting the four licences awarded in the previous period.
Online: The product offering and performance has been improved on the Primebet platform, which offers a solid online option to existing retail customers. Casino and games will be added in 2008 and will also be available to customers on the Betbull betting exchange platform. Further enhancements to the Primebet website are currently being implemented with the intention to provide an integrated platform for all the Group’s online offerings, including the re-launched corporate website.
Other countries: During 2007 Betbull pursued agreements with a number of agents in European jurisdictions, where Betbull would supply software and bookmaking expertise on a revenue sharing basis. Revenue is expected from these relationships in 2008.
Regulatory Update: Betbull is encouraged by the continued determination of the European Court to contest monopolies in the gaming sector. Whilst the situation in Germany remains unresolved, resulting in difficult trading conditions, Betbull has been able to maintain a healthy business.
Spain continues to lead the way in deregulation of the betting sector, with the expectation that further Autonomous Communities will legislate for the award of betting licenses in 2008.
Commenting on today’s release Simon Bold, Director of Betbull plc, said: 'I am pleased with the resilience our German operation has shown to the unresolved regulatory situation that prevails since the ratifying of the German Gaming State Treaty and I look forward to the ECJ ruling, which I believe will have a very positive effect for Betbull. We continued to operate a successful business in Germany and will strive to develop further in anticipation of liberalisation in the future.
In Spain we are one of the major gaming companies to apply for retail betting licences in the Autonomous Region of Madrid, whilst the award of those licences is taking longer than expected, we believe the potential of this venture is immense. We understand that further licences will be available in other Autonomous Regions of Spain during the next 12 months and Betbull intends to take advantage of such opportunities. '
1. Financial highlights for the year
- Betbull reports improved operating and EBITDA margins in 2007.
- EBITDA for the year was €0.03 m compared to €(0.91) m in 2006. While operating loss was reduced to €(1.26) m from €(1.97) m in 2006. Before share benefit charges adjusted EBITDA for the year was €0.15 m compared to €(0.27) m in 2006.
- Gross gaming revenue amounted to €78 m in 2007 (€89 m 2006) while net gaming revenue reached €13.32 m (€14.95 m 2006)
- Loss after tax amounted to €1.91 m in 2007 (€ 2.57 m 2006) resulting in €0.22 loss per share (€0.35 2006)
- Betbull maintains a healthy Cash Position of €7.70 m as of 31 December 2007 (€ 8.00 m 31 December 2006).
Expenditures include start up costs incurred in new business development, particularly in Spain.
2. Business highlights for the year
Germany: Germany has continued to provide strong revenue to the group in the face of difficult legislative circumstances.
Spain: The JV agreement with Grupo Orenes for operating retail betting in the Province of Madrid, has been replaced by a JV agreement with bwin Interactive Entertainment AG. A subsidiary company (Betbull Bwin Espana SA) has been created, and has been able to submit a license application to the Autonomous Community of Madrid.
Italy: Betbull is continuing to cautiously explore business development opportunities, in addition to exploiting the four licences awarded in the previous period.
Online: The product offering and performance has been improved on the Primebet platform, which offers a solid online option to existing retail customers. Casino and games will be added in 2008 and will also be available to customers on the Betbull betting exchange platform. Further enhancements to the Primebet website are currently being implemented with the intention to provide an integrated platform for all the Group’s online offerings, including the re-launched corporate website.
Other countries: During 2007 Betbull pursued agreements with a number of agents in European jurisdictions, where Betbull would supply software and bookmaking expertise on a revenue sharing basis. Revenue is expected from these relationships in 2008.
Regulatory Update: Betbull is encouraged by the continued determination of the European Court to contest monopolies in the gaming sector. Whilst the situation in Germany remains unresolved, resulting in difficult trading conditions, Betbull has been able to maintain a healthy business.
Spain continues to lead the way in deregulation of the betting sector, with the expectation that further Autonomous Communities will legislate for the award of betting licenses in 2008.
Commenting on today’s release Simon Bold, Director of Betbull plc, said: 'I am pleased with the resilience our German operation has shown to the unresolved regulatory situation that prevails since the ratifying of the German Gaming State Treaty and I look forward to the ECJ ruling, which I believe will have a very positive effect for Betbull. We continued to operate a successful business in Germany and will strive to develop further in anticipation of liberalisation in the future.
In Spain we are one of the major gaming companies to apply for retail betting licences in the Autonomous Region of Madrid, whilst the award of those licences is taking longer than expected, we believe the potential of this venture is immense. We understand that further licences will be available in other Autonomous Regions of Spain during the next 12 months and Betbull intends to take advantage of such opportunities. '