19 per cent growth anticipated
Spread betting firm IG Group Holdings has benefited from record levels of client activity in the recent market volatility, it has announced. The news comes despite it being holiday season in the majority of the countries in which it operates. As a result, the group said that it currently expects that it will achieve revenues in excess of £94m for the quarter ending 31 August 2011, compared to £79.1m in the corresponding period in the prior year. This would represent growth of at least 19 per cent. Costs have been in line with management’s expectations, it added.
to strength ne operation leading the growth spurt.
rently pursuing in the US. “Looking ahead, although the economic environment continues to be challenging, our offering is very strong and competitive. Our multi-channel business targets the widest possible audience, and our positioning on pricing and trading, together with our exten- sive product range and effective use of new technologies, includ- ing mobile, combine to present customers with a highly attrac- tive experience. We are perform- ing well and, given our market-leading position, interna- tional developments and a pipeline of innovations, we look to the second half of the year and beyond with confidence.”
ANALYSIS
William Hill’s retail business also surprised analysts with its 2 per cent increase in net revenue to £398.8m, especially as it wasn’t just down to the 10 per cent increase in machine gross win. The figures also showed a 2 per cent growth in over-the-counter (OTC) turnover, albeit at a slightly reduced gross win margin of 16.8 per cent, but total net revenue was 2 per cent ahead and OTC operating profit was 1 per cent higher at £104.0m. With William Hill showing growth in all divisions, it really is standing out as the leader of the pack at the moment.
Bet-at-Home beats strong comparatives ONLINE Christian Woolfenden has been appointed marketing director
appointments corporate
for Paddy Power. Woolfenden will join in December from
NEIL COOPER: ‘SPORTS BETTING AT THE SPEARHEAD BRINGS IN PEOPLE WHO YOU CAN THEN CROSS-SELL GAMING INTO’
Bacardi where he is currently global brand director. His appoint- ment follows the move by previous marketing director Barni Evans to Australia to head up the marketing for Paddy Power’s Australian divisions, Sportsbet and IASbet. CEO Patrick Kennedy said: “Paddy Power’s business and success have been built around our brand. It is an enormous point of difference against our competitors, as the only brand with a real personality in our sector globally. I know it will continue to thrive under the leadership of Christian and our current marketing team.”
The bookmaker has also announced that Cormac McCarthy has joined the board as a non-executive director, replacing Brody Sweeney who has retired after over six years service. Chairman Nigel Northridge said: “I would like to thank Brody for his sig- nificant contribution to the Board of Paddy Power and the energy and judgment he has brought to the development of the business since his appointment in 2005.” Lars Kollind, one of the founders and
president of poker agency Poker Icons has become poker manager at MTG owned Bet24 and will head up the marketing, PR and event departments of Bet24’s poker department. “As I come from Scandinavia and with my strong knowledge in marketing, event, PR and the poker business, this was a natural choice for me,” he com- mented: “I strongly believe that I will be a great representative of Bet24 and with creative solutions and hard work I shall endeavor to make Bet24 a leading poker brand in Europe.”
LARS KOLLIND Bodog Europe has continued its aggressive recruitment drive with the appointment of Bryan Hurwitz as the new mobile
product manager. Joining from Mfuse, Hurwitz will be responsible for managing the mobile product channel, and working with teams to deliver its next generation mobile product. Joining him at Bodog is business analyst Conor Hickey, who
was previously at Sportingbet where he worked for the past two years working on a variety of projects. Bodog Europe CEO Patrik Selin said: “These are two key roles we have been wanting to fill for a while and both roles immeasurably strengthen our team in vital areas for the business.”
Football pools operator Sportech has appointed David McKeith
as an independent non-executive director and he will also become the chairman of the group’s audit committee. McKeith is is a chartered accountant having retired from PricewaterhouseC- oopers LLP in 2008 where he had been the North West Senior Partner from 2001 to 2008. Sportech Chairman Roger Withers said: “David’s considerable financial expertise, experience and business knowledge will further strengthen the Board whilst adding to its independence.”
Racecourse Media Group (RMG) has created a new position of director of racing and filled it with Ed Gretton. He will be
BET-AT-HOME.COM HAS OUTPERFORMED A WORLD CUP YEAR
E
uropean sportsbook Bet-at-
Home.com has reported a 25.9 per cent increase in turnover to 865.2m euro (£757.5m) and a 12 per cent increase in gross profit for the first half of the year to 35.2m euro (£30.8m) despite the strong com- parative period in 2010. The company, which is part of the BetClic Everest Group, said that the figures mark the ‘distinct growth over the recent years and it has been continued successfully in the first half of the year 2011’.
The firm said that it dropped the amount it had spent on marketing
in 2011 for the main reason that competition for business by book- makers around the 2010 World Cup means that costs for event-related marketing activities are above average.
It commented: “Additionally, further efficient marketing activi- ties ensured a planned decrease in advertising expenditure. This is reinforced by the significant increase in betting and gaming turnover and gross profit accom- panied by a decline in marketing expenses. This is also reflected in the accumulated advertising
expenditure for the first half of 2011 - 18.3m euro (£16.0m) in the first half of 2011 in comparison to 22.9 m euro (£22.0m) in the first half of 2010.”
The company said that this year it has also been involved in the ‘intensive acquisition’ of new cus- tomers and ‘continual develop- ment of new measures in reactivating existing customers’. The firm believes the drive has served to further strengthen the success of the
bet-at-home.com brand, which now can boast over 2.4m registered users.
responsible for formulating and leading RMG’s strategy on a range of collective racing issues, including fixture planning. Racecourse Media Group, the umbrella organisation for the 30 Racecourses which holds an interest in Racing UK, Turf TV and GBI Racing, has developed significantly as a strategic partner to the racecourses over recent years.
Foreshore, the datacentre and IT services company in the new
jurisdiction of Jersey, has retained Aideen Shortt’s consultancy services to help develop its strategy for the egaming industry. Working with Foreshore’s business development and sales teams, Shortt will be responsible for establishing corporate awareness and developing and negotiating client sales in the online gaming industry. Foreshore CEO Chris Evans said: “With her vast wealth of experience and unrivalled network of connections, Aideen is perfectly placed to estab- lish Foreshore as the top-tier tech- nology and hosting provider for a wide range of egaming companies, and we look forward to an exten- sive and valuable contribution during her time with us.”
BettingBusinessInteractive • SEPTEMBER 2011 43
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