(Registrieren)

euro adhoc: Betbull plc / Geschäftszahlen/Bilanz / Betbull with Continued Growth in QIII/2006 and Repositioning as European Retail Betting Player completed

Geschrieben am 30-11-2006


--------------------------------------------------------------------------------
Ad hoc-Mitteilung übermittelt durch euro adhoc. Für den Inhalt ist der
Emittent verantwortlich.
--------------------------------------------------------------------------------


30.11.2006

Betbull with Continued Growth in QIII/2006 and Repositioning as
European Retail Betting Player completed (Release of Betbull’s
QIII/2006 Unaudited Results and In Depth Update on Group Strategy)
Highlights of this Release


- Betbull with continued growth during the 9 months to 30th September
2006, recording a Turnover of EUR 63.80 m and Net Gaming Revenue of EUR 10.80 m
(unaudited figures). A healthy cash position of EUR 7.30 m was maintained
(unaudited figure) with positive free cash flow attained in QIII.
- Repositioning as a retail betting operator successfully completed.
Online offerings to support retail business now only of minor importance.
- Expansion into Spain successfully commenced. Joint Venture agreement
with leading leisure and gaming group Orenes successfully completed. Licence
application for retail betting units in Italy launched
- Legal situation in Germany still opaque and posing substantial risks to
sports betting units there. Italian betting market liberalized and Spain on its
way.
- Fund raising being evaluated to finance the further development of
Spanish and Italian opportunities.
1. Unaudited Figures QI-QIII 2006
Betbull achieved a record Turnover of EUR 63.80 m yielding a Net Gaming Revenue
(after commissions) of EUR 10.80 m in the period QI-QIII 2006. Turnover is up
by 60% and Net Gaming Revenue up by 83% compared to the same period in 2005.
Overall Betbull produced an EBITDA of EUR (0.58) m and made a loss after tax of
EUR 1.81 m. This includes EUR 0.33 m options and warrant related charges.
While the German retail betting business is producing a positive EBITDA the
group’s losses are mainly a result of start-up costs in Spain, restructuring
costs in Gibraltar, legal and tax advisory costs as well as costs of business
development in other European countries. The online offerings together are
breaking even on an EBITDA-level.


Free Cash Flow in the period QI-QIII was EUR (1.55) m leaving Betbull
with a healthy Cash Position of EUR 7.30 m as of end of QIII.
Overall, Betbull produced EUR 0.17 m Free Cash Flow in QIII.

2. Outlook

October’s Turnover of EUR 10.76 m is one of the highest monthly
turnovers achieved to date and underlines the potential in European
retail betting markets, even under difficult regulatory
circumstances.

3. Update on Betbull Company Strategy

Betbull has successfully completed its repositioning from a pure
online gaming operator to a retail betting operator with a
complementary online offering. 88 % of Turnover and 96 % of Net
Gaming Revenue was produced by the company’s retail betting outlets.

Also, Betbull expects its future growth to come predominantly from
retail betting. The online offerings www.betbull.com, www.betbull.de
and www.primebet.com as well as telephone betting will be maintained
as complementary offerings to retail customers

Betbull’s objective is to establish itself as a leading pan-European
retail betting player. The Directors believe that a pan-European
scale has the following advantages: Firstly, a pan-European offering
would facilitate the development of the brand due to pan-European
attention for leagues, tournaments, and events. Secondly, the
existing infrastructure for bookmaking and risk management as well as
the group’s online and telephone offering would be more effectively
utilised if fed by business across Europe. Thirdly, a pan-European
offering would lead to a better balance of books and would steady the
trading margins as a result of increasing volumes and a more diverse
mix of bets. Finally, it would allow a wider product offering at
higher marginal profit contributions.

Betbull’s business is currently based on bookmaking licences in the
UK, Austria, Malta, Germany (Federal States; horses only), and Spain
(Andalucia; horses only).

Betbull has designed its systems and technology for a roll out
throughout Europe. Retail and backend systems have been developed to
support regional differences whilst risk management remains
centralised across all platforms in real time. Retail "Live Betting"
has been successfully launched and integrated into EPOS (Electronic
Point Of Sale) and screen systems.

Betbull follows the operator business model successfully proven for
decades in the UK as opposed to a franchise business model. In the
Director’s view the locations constitute the value as licences,
customer base and control are tied into them. While franchise models
have shown to be successful in consumer retail they are difficult to
apply to financial services due to difficulties and risks associated
with non-compliant franchisees. However, this does not preclude
Betbull from working with agents where it makes sense due to the
regulatory or competitive situation.

Betbull’s current geographical coverage currently includes Germany
and Spain with plans to move into Italy in 2007.

In Germany the group owns and operates 47 shops and accepts bets from
27 free agents. This includes licenced horse racing shops as well as
sports betting agencies. The shops are predominantly located in
Hessen and Nordrhein-Westphalen.

In Andalucia, Spain, the group owns and operates two outlets
(recently opened) with further outlets in the pipeline. These units
provide a key indicator of trading requirements and expectancies for
the larger scale roll out of retail betting outlets across the
autonomous communities of Spain as liberalization unfolds, giving
Betbull an important lead in the race for supremacy in this exciting
new market.

The first shops out of the Joint Venture Agreement signed with Orenes
are expected to be opened in the autonomous community of Madrid,
whose new licencing laws are expected to be announced by 30th
November 2006.

Orenes is a leading Spanish leisure and gaming operator with
excellent political standing and a highly respected institution. It
has the scale and skills to rapidly develop a retail betting
operation across Spain together with Betbull as liberalization
occurs. Orenes has post tax earnings for the year 2005 of
approximately EUR 50 m.

In Italy Betbull, through a subsidiary, has bid for four licences in
Milan and Como. In the Director’s view this provides an excellent
market entry point for Betbull while the company is in the process of
identifying suitable retail or leisure partners.

Other regulated European countries are also being searched for
opportunities and potential partners or acquisition targets.

4. Update on regulatory and legal situation in German, Spain,
and Italy

The legal situation in Germany remains opaque. Betbull has already
reported in depth about the German Constitutional Court ruling on
sports betting and the EU-treaty violation proceedings against
Germany for its incoherent approach to gaming in general.
Nevertheless the Prime Ministers of the German Federal States have
opted for keeping the monopoly and have aggressively attacked sports
betting operators and agents. In their next general meeting
scheduled for 13 December 2006, they intend to agree on a state
lotteries treaty ("Lotteriestaatsvertrag") which would reinforce the
state monopoly and would provide for a prohibition of all private
operators. In order for the state treaty to become law, it would have
to be ratified by the parliaments of the German Federal States
("Bundesländer") by the end of 2007.

Meanwhile the German Anti-Trust Authority ("Bundeskartellamt") has
declared the co-operation of the German State-Lotteries a violation
of German and European anti-trust regulation and jurisdiction. This
ruling was upheld by a court. The recent concerted move of most of
the State-Lotteries to shut down their online-offerings has been
interpreted by the Anti-Trust Autority as a violation of their
ruling. According to legal experts and advisors of Betbull this
could grind the legislative process, that would also cover sports
betting, to a halt.

So far there have been various and even contradictory rulings from
lower and higher administrative courts with regards to immediate
closure of sports betting shops. These cases hinge on the precedent
of European law (freedom of services) over German law. All sports
betting outlets in Germany, including Betbull’s, could be affected.
Experts estimate that 1/3 of the sport betting shops in Germany have
been closed already. Overall, eleven of Betbull`s sport betting shops
(predominately in the Federal States of Nordrhein-Westphalen and
Bayern) have been closed.

Further clarification of the situation is expected from the Placanica
ruling of the European Court of Justice due within months. The
attorney general suggested to stop penalization of agents of
EU-bookmakers and to recognize the validity of licences issued within
one EU-member state, in all other EU-member states.

In Spain plans to regulate and liberalize the sportsbetting market
are already revealed in the autonomous communities of Madrid,
Catalunia, and El Pais Basco. The regulatory approaches will be
implemented on a regional basis. A nationwide policy on gaming is not
expected.

Betbull and Orenes are committed by reason of their Joint Venture
Agreement to apply for licences throughout Spain, where legislation
allows.

In Italy a tender of sport betting and horse race betting licences
following § 38 of the "Decreto Bersani" has been conducted.

Subject to formal confirmation of award of licences, Betbull intends
to open flagship retail sports betting outlets with complimentary
horse betting facilities in Milan and Como, giving the company a
valuable insight into the Italian retail betting market offering the
possibility for further rapid expansion.


5. Capital increase and issue of new shares
Betbull has sent out notice of an Extraordinary General Meeting to be held on 15
December. A resolution will be proposed at this meeting to authorise the Board
of Directors to issue up to 2,000,000 new shares on a non-pre-emptive basis.
This power will provide the Directors with the flexibility to raise finance to
pursue new opportunities. The Directors are currently considering effecting a
placing of up to 1,000,000 new shares in order to further develop the Spanish
and Italian businesses.
Betbull plc


Consolidated Profit and Loss account

For the nine months ended 30 September 2006

2006
(9 months) 2006
(6 months)
EUR EUR
Net Gaming Revenue 10,808,332 7,009,573
Operating expenses (2,986,282) (1,905,192)
Administrative expenses (9,276,032) (6,425,745)
Operating loss
Other income - tax refund
Interest receivable (1,453,982) (1,321,364)
166,000 -
75,304 46,696
Interest payable (3,649) (1,887)
LOSS BEFORE TAX (1,216,327) (1,276,555)
Taxation (592,281) (366,211)
LOSS AFTER TAX FOR THE PERIOD (1,808,608) (1,642,766)
Betbull plc

Consolidated Balance Sheet
As at 30 September 2006


30 September 2006
30 June 2006
EUR EUR EUR EUR
Assets
Non-current assets
Property, plant and equipment 2,373,784 2,410,658
Goodwill 21,221,625 21,221,625
Investments 23,400 23,400
Deferred tax assets 57,826 57,826
23,676,635 23,713,509
Current assets
Inventories 60,646 80,501
Trade and other receivables 4,033,148 3,472,642
Cash and cash equivalents 7,335,090 8,093,045
11,428,884 11,646,188
Total assets 35,105,519 35,359,697
Liabilities
Current liabilities
Trade and other payables 6,275,389 6,775,284
Corporation tax payable 845,075 735,476
Total current liabilities 7,120,464
7,510,760
Non-current liabilities
Financial liabilities 3,923,644 3,923,644
Total non-current liabilities 3,923,644
3,923,642
Total liabilities 11,044,106 11,434,402
TOTAL NET ASSETS 24,061,413 23,925,295
Equity attributable to equity holders of the company
Share capital 532,317 530,303
Share premium 27,865,233 27,759,811
Merger reserve 2,982,615 2,971,331
Retained earnings (9,000,339)
1,504,327 (8,854,059)
1,340,649
Share benefit reserve
Cumulative translation reserve 177,260 177,260
TOTAL EQUITY 24,061,413 23,925,295


ENDS -
Contact
David De Marco, Group Finance Director

Phone +356 21480131
Fax +356 21480132

Please note the new address:

Betbull Plc
25 Old Broad Street
Tower 42, Level 23/Pillsbury
London EC2N 1HQ
United Kingdom

This communication can be downloaded from the website
www.betbullplc.com.

About Betbull Betbull has the goal to establish itself as one of the
leading Continental European retail betting players. The Betbull
group members hold bookmaking licences in the UK, Austria, Malta and
horse betting licences in select districts of Germany and Spain.

The high caliber management team (Simon Bold, David De Marco,
Alexander Leip, and Günter Schmid) can resort not only to state of
the art bookmaking and operating know how but also relevant M&A
expertise and track record.

Betbull is stock quoted since October 2004 on the Viennese stock
exchange ("BETB", "BETB.VI").

For further details please refer to the company website
www.betbullplc.com.

Disclaimer This communication contains statements about the future
(prognoses). Those statements are based on the Directors’s opinion,
assumptions made by the Directors, and information available to the
Directors. One or several factors that the Directors cannot foresee
with certainty could result in outcomes and events that deviate from
the prognoses. All prognoses are valid only on the date of their
announcement. Betbull has no intentions to and is not obliged to
update prognoses or to adapt prognoses to future events or
developments.


Ende der Mitteilung euro adhoc 30.11.2006 18:00:00
--------------------------------------------------------------------------------


ots Originaltext: betbull - The European Betting Exchange Plc.
Im Internet recherchierbar: http://www.presseportal.de

Rückfragehinweis:
Betbull plc
Catriona Macniven
Investor Relations
Tel.: +350 77331
e-Mail: c.macniven@betbull.com

Branche: Glücksspiele
ISIN: AT0000615331
WKN: A0DKM0
Börsen: Wiener Börse AG / Börse


Kontaktinformationen:

Leider liegen uns zu diesem Artikel keine separaten Kontaktinformationen gespeichert vor.
Am Ende der Pressemitteilung finden Sie meist die Kontaktdaten des Verfassers.

Neu! Bewerten Sie unsere Artikel in der rechten Navigationsleiste und finden
Sie außerdem den meist aufgerufenen Artikel in dieser Rubrik.

Sie suche nach weiteren Pressenachrichten?
Mehr zu diesem Thema finden Sie auf folgender Übersichtsseite. Desweiteren finden Sie dort auch Nachrichten aus anderen Genres.

http://www.bankkaufmann.com/topics.html

Weitere Informationen erhalten Sie per E-Mail unter der Adresse: info@bankkaufmann.com.

@-symbol Internet Media UG (haftungsbeschränkt)
Schulstr. 18
D-91245 Simmelsdorf

E-Mail: media(at)at-symbol.de

42732

weitere Artikel:
  • Hercules Offshore präsentiert sich auf der Southcoast Energy Conference 2006 von Capital One Houston (ots/PRNewswire) - Hercules Offshore, Inc. (Nasdaq: HERO) gab heute bekannt, dass Randall D. Stilley, Chief Executive Officer und President, sowie Steven Manz, Chief Financial Officer, am Montag, den 4. Dezember um 10.15 Uhr CST (11.15 Uhr EST), eine Präsentation auf der Southcoast Energy Conference von Capital One in New Orleans im US-Bundesstaat Louisiana geben werden. Eine Audioaufzeichnung der Präsentation wird nicht verfügbar gemacht, die bei der Präsentation verwendeten Folien werden jedoch bis zum Donnerstag, den 4. Januar mehr...

  • Alcatel und Lucent schließen Fusion ab und werden damit zum weltweit führenden Anbieter von Kommunikationslösungen Paris und Murray Hill, N.J. (ots) - Alcatel (Paris: CGEP.PA und NYSE: ALA) und Lucent Technologies (NYSE: LU) gaben heute bekannt, dass ihre Fusion abgeschlossen ist und dass sie ab 1. Dezember 2006 als der weltweit führende Anbieter von Kommunikationslösungen die Geschäfte aufnehmen. Die neue Gesellschaft Alcatel-Lucent besitzt Forschungs- und Entwicklungseinrichtungen, die weltweit zu den größten der Kommunikationsbranche gehören, und bietet das umfangreichste Produktportfolio an Festnetz- und Mobilfunklösungen sowie zugehörigen Dienstleistungen. mehr...

  • Großauftrag vom Großaktionär Eigentümerwechsel bei der G.I.B. Inc. trägt erste Früchte -------------------------------------------------------------------------------- ots.CorporateNews übermittelt durch euro adhoc. Für den Inhalt der Mitteilung ist das Unternehmen verantwortlich. -------------------------------------------------------------------------------- Aloha/Oregon (euro adhoc) - Die in Aloha, Oregon ansässige G.I.B. Global Intelligence Board, Inc. (www.gib-inc.com), eine überwiegend in Europa tätige Business-Development-Gesellschaft, gibt den Erhalt eines mehr...

  • Eurocastle Investment Limited ("Eurocastle" or the "Company") Priced 16,216,216 New Shares in Offer at ¤37 per New Share Guernsey (ots) - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN Eurocastle (Euronext Amsterdam: ECT) announced today the successful pricing of its offer (the "Offer") of new ordinary shares ("New Shares") at a price (the "Offer Price") of EUR 37 per New Share. The number of New Shares to be issued (assuming no exercise of the over-allotment option) is 16,216,216, raising gross proceeds of approximately EUR 600 million. Eurocastle has granted an over-allotment option to Deutsche mehr...

  • euro adhoc: CHRIST WATER TECHNOLOGY AG / Sonstiges / CHRIST gewinnt bedeutende Reinstwasser-Projekte in Asien -------------------------------------------------------------------------------- Ad hoc-Mitteilung übermittelt durch euro adhoc. Für den Inhalt ist der Emittent verantwortlich. -------------------------------------------------------------------------------- 01.12.2006 Christ Ultrapure Water AG, ein Mitglied der Christ Water Technology Group, wurde vom führenden Wafer-Hersteller in Singapur, Siltronic Samsung Wafer Pte. Ltd., und einem Halbleiterproduzenten in China mit der Abwicklung von zwei Grossprojekten für komplette Reinstwasseranlagen mehr...

Mehr zu dem Thema Finanzen

Der meistgelesene Artikel zu dem Thema:

Century Casinos wurde in Russell 2000 Index aufgenommen

durchschnittliche Punktzahl: 0
Stimmen: 0

Bitte nehmen Sie sich einen Augenblick Zeit, diesen Artikel zu bewerten:

Exzellent
Sehr gut
gut
normal
schlecht