Betbull Holding SE
Betbull Holding SE (‘Betbull’) announces the release of group consolidated unaudited financial statements for the nine months ended 30th September 2011
Betbull Holding SE / Key word(s): Quarter Results Betbull Holding SE (‘Betbull’) announces the release of group consolidated unaudited financial statements for the nine months ended 30th September 2011 1. Financial highlights for the nine months to 30th September 2011 – Betting stakes of EUR 55.5m for the nine months down 2.3% compared to EUR 56.8m in the same period last year. – Net gaming revenue of EUR 10.1m for the nine months down 7.3% compared to EUR 10.9m in the same period last year. – EBITDA of EUR 0.1m for the nine months down EUR 0.9m compared to EUR 1.0m in the same period last year. – Loss for the nine months EUR 0.03m down by EUR 0.21m compared to EUR 0.24m for the same period last year. – Cash position as at 30 September 2011 of EUR 8.6m compared to EUR 5.7m as at 30 September 2010. – Business highlights for the nine months to 30th September 2011 Betbull’s business performance in Q3/2011 was still under pressure due to permanent administrative actions taken against Betbull’s betting outlets in the federal states of Lower Saxony and Rhineland-Palatine and the steadily increasing grey market offerings. The decline of stakes and profit compared to the 2010 figures can be attributed to the shop closures suffered in the above mentioned federal states. Where business is not affected by legal measures of the authorities, the performance of the betting shops is stable and promising though competition is increasing steadily. In September the legislative body of Schleswig-Holstein passed a new Gaming Act (‘Glücksspielgesetz Schleswig-Holstein’) that has been successfully notified with the European Commission. This new Gaming Act will establish a liberalized gaming market in Schleswig-Holstein with effect from 1 January 2012 including sports betting and online poker and casino games. The issuing of licences under the new Gaming Act shall commence in March 2012. Since notification of the draft State Treaty on Gaming (‘Glücksspieländerungsstaatsvertrag’) has failed, the Prime Ministers of the involved 15 federal states made material changes to the terms of the draft State Treaty; the number of sports betting licenses to be issued has been increased from 7 to 20 licenses as well as the levy on sports betting has been reduced from 16 2/3% to 5% on betting stakes. Commenting on today’s press release Alexander Leip, Managing Director of Betbull Holding SE, said: ‘Even though we are still operating in an unsatisfactory situation with the authorities in certain German regions and the still existing legal uncertainties there, we are happy with the performance of our retail betting chain and our gaming halls. In a fully regulated market and under the commercial terms proposed in the latest draft State Treaty on Gaming, in particular the reduced levy on sports betting, our team is well prepared to expand our retail chain fast and significantly – through organic growth, due to acquisitions and with strategic partnerships. Betbull intends to apply for licenses under the new Gaming Act in Schleswig-Holstein as well as under the new State Treaty on Gaming.’ Betbull Holding SE
Betbull Holding SE
– ENDS – Contact David De Marco. d.demarco@betbull.com Betbull Holding SE is registered at the Commercial Court of Vienna under the Company register Number FN 353397b (formerly registered in England & Wales under the Registration Number SE12). This communication can be downloaded from the website www.betbullse.com. About Betbull: Betbull is an established provider of gaming centred retail entertainment, based in Vienna, Austria. Betbull offers its customers principally horse and sport betting at licensed betting shops, complemented by slot machines, internet betting and sport bars. Betbull accepts bets based on licences in Malta and Germany. In Germany, Betbull products are available above all under the ‘Wettenleip’ brand. Betbull itself has been quoted on the Third Market of the Vienna Stock Exchange (‘Other Securities’) since October 2004 (ISIN AT0000A0KPX9, formerly AT0000615331) and was established as a joint venture between Fun Technologies Plc and bwin Interactive Entertainment AG. For detailed information on Betbull, visit www.betbullse.com. End of Corporate News 30.11.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Betbull Holding SE | |
15 Fetter Lane | ||
EC4A 1JP London | ||
United Kingdom | ||
Phone: | +356 21480131 | |
Fax: | +356 21480132 | |
E-mail: | info@betbull.com | |
Internet: | www.betbullplc.com | |
ISIN: | AT0000615331 | |
WKN: | A0DKM0 | |
Listed: | Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt; Wien (Dritter Markt (MTF) / Third Market (MTF)) | |
End of News | DGAP News-Service |
148031 30.11.2011 |