Number Crunching - Realistic Games, Matchbook and Olympic Entertainment

Number Crunching - Realistic Games, Matchbook and Olympic Entertainment

Wednesday, March 21, 2018 Posted by Joseph Streeter
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Breaking down all the weeks news into a set of easy to manage figures

€288 million - Novalpina Capital has put forward a bid to purchase Estonia listed gambling firm Olympic Entertainment Group (OEG) outright.

With it aiming to deliver a 3.3% premium on OEG’s ‘average exchange price’ for the past six months of trading, Novalpina and Odyssey value OEG enterprise at approximately €288 million.  

$75.5 million - Publishing its annual results for 2017, online operator 888 has reported a 4% group revenue increase to $541 million, supported by the double-digit growth of its sports betting division up 45% to $75.5 million (FY2016: $51.9 million).

Nonetheless, the group’s profits were hampered by $50 million regulatory charges from the United Kingdom Gambling Commission, which the group outlined in the first half of 2017. Which led to 888 declaring 2017 profits of $18 million, down 65% from the previous figures.

Itai Frieberger, Group CEO, retained positivity after the results: “888 has delivered another year of progress achieving record revenues of US$541.8 million and a 12 per cent increase in Adjusted EBITDA. The Group’s growth was driven by further expansion in Casino, Sport and across regulated markets. This very robust outcome was achieved despite the Group’s withdrawal from certain markets during the year and demonstrates 888’s resilience and agility that is underpinned by first-class technology and an outstanding team.

“The Group has continued to reap the rewards of its investments in recent years in several growth markets including Spain and Italy. These markets helped to drive very strong revenue growth in regulated markets excluding the UK of 26%. The Group continues to gain momentum in Sport where revenue increased an impressive 45%.

"Current trading since the start of the year is in line with our expectations with average daily revenue 6% above the previous year, representing an 8% increase when adjusted for the withdrawn markets. 888 is a resilient and diversified operator with scalable proprietary technology. The Group has a number of significant growth opportunities ahead and the Board is confident of another year of operational progress.”

20% - Matchbook is extending its unbeatable offer of 0% commission on all UK and Irish racing to April 28th. This means bettors can look forward to commission free betting on both the Grand National and the Punchestown Festival next month.

Neil Campbell, Matchbook CMO, said: “We want to keep encouraging customers to move over to the Matchbook Betting Exchange. Those that did for the Cheltenham Festival not only paid 0% commission, but they also made 20% more profit when compared to the industry SP.

Matchbook made the decision to extend the offer after a successful Cheltenham where it saw a 100% increase in bettors and an incredible 400% increase in betting volume.

With liquidity at record levels Matchbook wants as many horse racing fans as possible to find out just how good exchange betting can be. “Once you’ve moved over to Matchbook we’re confident you won’t look back,” Campbell says.

In February, when Matchbook announced they were offering 0% commission for all Cheltenham races, they received criticism from rival exchange, Betfair, that a pricing war would initiate a “race to the bottom”. But the exchange is confident increased competition is better for everyone and it is proud to offer bettors unbeatable value for some of the biggest national hunt meetings of the year.

8 - After a turbulent few weeks for Manchester United manager Jose Mourinho, Ladbrokes have priced up eight players departing the club in the summer.

The bookies have suspended betting on Zlatan Ibrahimovic and Matteo Darmian leaving the club when the window opens, while the likes of Anthony Martial (Evens) and Daley Blind (1/2) could also be following suit.

Elsewhere, Luke Shaw (1/5) finally looks set for an Old Trafford exit, along with England teammates Chris Smalling (Evens) and Phil Jones (5/2).

Alex Apati of Ladbrokes said: "Jose has it all to do in the summer to compete with City next season, but it looks as though he'll turn his attention to departures before bringing anyone in."

2 - Casino supplier Realistic Games has moved to bolster its client support services with the appointment of two new account managers.

Colin Weaver and Lidia Suero started their roles last week and will be based in the provider’s office in Gibraltar to help their operator partners on the Rock.

Weaver joins the team from Betsson, where he was Casino Insight Manager after previous roles at Bet365, whilst Suero leaves an account manager role at Optima over the border in Spain.

Robert Lee, Commercial Director at Realistic Games, said: “We’re delighted to have Colin and Lidia on board and welcome them to the Realistic Games family at an exciting time.

“We have a host of great new games on the way and with an even stronger account management team to help role them out we are in a very strong position.”

Weaver added: “I’m very pleased to have joined Realistic Games and am excited about helping take one of the most respected suppliers in the industry to the next level as a business.”

Suero, who also previously worked for iGT, said: “I’m looking forward to getting stuck in and am looking forward to the next chapter in my career, as well as the development of Realistic Games in the coming months.”

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