Sporting Bet results causing Party and Empire dead cat bounce.
 

Sporting Bet have just announced a good set of figures for the 12 months to July 2005, Empire and Party also up 5% as a result.

Sporting Bet results

Financial Highlights - 12 months ended 31 July 2005

* Turnover of #1,526.2m versus #1,177.6m last year (2004 16 months: #1,422.8m)

* Gross margin of #175.8m versus #93.9m last year (2004 16 months: #108.8m)

* Operating profit, before goodwill and exceptional items, of #60.5m versus #20.8m last year (2004 16 months: #21.7m):
- Paradise Poker contributed #28.4m to operating profit (2004: Nil)
- Excluding Paradise Poker, operating profit up 54.3% to #32.1m

* Profit before tax of #40.8m versus #8.3m last year (2004 16 months: #5.4m)

Regards Mack

Re: Sporting Bet results causing Party and Empire dead cat bounce.
 

It shows the lack of understanding the markets have about this sector, most of their profit comes form their sportsbook which as far as I am aware neither party or empire have.

Yesterday Party's share should have gone up imho but it seems looking at the reports in the guardian that some saw that as a problem due to the fact that the skins have allowed the huge growth at party combined with the ceo of Empire saying growth was flat recently.

In another papers report they are saying that Empire are saying they have had a lot of success getting people to play at Noble as well.

Daily Post

Re: Sporting Bet results causing Party and Empire dead cat bounce.
 

Apparently Paradise contributed about 45% of pretax profits his year.

Mack

Re: Sporting Bet results causing Party and Empire dead cat bounce.
 

[ QUOTE ]
Apparently Paradise contributed about 45% of pretax profits his year.

Mack

[/ QUOTE ]

The report I read which I now cant find said 91% came from the sportsbook must have meant income rather than profit.

Sporting Bet Results