Sportingbet Reports Good News in Online Gambling Sector
With a number of bookmakers reporting poor showings in recent days, Sportingbet has provided a ray of hope on Wednesday.
That company said it is confident for the year after posting a 7 percent rise in 2nd quarter profits.
For the second quarter ended January 31, Sportingbet posted adjusted operating profit of 11.2 million pounds and saw net gaming revenue rise 22.3 percent to 52.6 million pounds.
"It is very pleasing to report results in line with our full year plan, particularly given the recessionary backdrop in many of our markets," the firm said in a statement.
Its shares closed at 63.5 pence on Tuesday, valuing the company at 318.7 million pounds.
Elsewhere in the sector, International Game Technology (NYSE: IGT) announced that its Board of Directors has declared a quarterly cash dividend of six cents ($0.06) per share, payable on April 9, 2010 to shareholders of record on March 16, 2010.
International Game Technology is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.
Jagajeet Chiba, Gambling911.com
