Tombola Group Posts FY 2017 Results
Turnover and operating profit both up at Sunderland-based online gambling firm
Sunderland based tech company Tombola, who develops bingo software and online games, has posted FY 2017 results showing:
* Turnover up 24 percent at GBP 73.7 million;
* Operating profit up 17 percent at GBP 13.5 million;
* Profit for the financial year up 34 percent at GBP 15.3 million;
* Net profit before tax GBP 13.8 million;
* Employee headcount now 450 people across UK, Italy, Spain and Gibraltar;
* Move into a new GBP 7 million headquarters imminent;
* Dividends of GBP 7 million were paid out during the year;
Companys founder and chief executive Phil Cronin reported that the company continues to thrive and grow its market share across the UK and Europe.
“The groups net profit before tax also increased during the year to GBP 13.8 million from GBP 11.9 million which is a result of the introduction of Tombola Arcade,” he said.
“The group is focused on the continual research and development of its products”.
However, Cronin sounded a note of caution regarding Brexit, noting that management is making contingency plans and warning:
The principle risk and uncertainty the company faces is Brexit. There are still a number of Brexit scenarios which may cause issues with trade in Spain and Italy, however the management team are currently in the process of reviewing options to ensure the company have contingency plans for business continuity.
Cronin noted that Tombola has continued to grow at an outstanding rate whilst consistently delivering an innovative and original portfolio of online entertainment for its customers, and exceptional technical performance, support and customer service.
We are nearly three years into our five-year 2020 strategy and ahead of our own projections for the forthcoming year,” he said. The opening of our new HQ in Sunderland is a key element of our future development, expansion and growth plans. It will also assist us to achieve our aim to significantly increase the size of our northeast tech team by 2020.”
He concluded by revealing that management plans to expand into more markets going forward.
January An Outstanding Month For Macau Gambling
Revenues soar well above analysts expectations with a 36 percent y-o-y rise
The Macau gaming authorities released revenue numbers for January 2018 Thursday, reporting that revenues soared way above analysts’ predictions at 36 percent year-on-year to 26.3 billion patacas ($3.3 billion). The increase was the largest since February 2014.
Most predictions had been in the 26 to 28 percent range.The 36 percent monthly gain represents the highest in percentage terms since 2011.
The month saw high rollers and leisure gamblers headed to the island gambling hub before the Chinese New Year rush.
January’s revenues extended a growth streak to an 18th straight month, following reports by the Macau units of Las Vegas Sands Corp and Wynn Resorts Ltd. of stronger-than-expected earnings for the fourth quarter.
In 2017, the former Portuguese colony posted its first annual revenue gain in three years.
Reuters reports that despite the spectacular bounceback, Macaus gambling revenues still remain off 2014 highs, hovering around 2012s monthly levels,
The expiration of casino licences is a critical issue for operators as there is large uncertainty over the future outcome.
Government officials have said there may be a new public bidding process when they expire.
Digital Saves The Day In Rank Group H2-2017 Results
UK digital revenues up 16 percent, making up for an slow retail performance
Digital operations were the stars of Rank Group plc’s H2-2017 results released this week, delivering revenues up 16 percent y-o-y at GBP 60.6 million against a backdrop of slow growth in the retail divisions as British punters turned increasingly to the online environment..
Digital operating profit was up 56 percent y-o-y at GBP 11.4 million.
Overall group revenue rose a marginal 1 percent year-on-year at GBP 378.1 million, with statutory revenue flat at GBP 354.2 million.
The group posted overall adjusted profit before tax up 17 percent at GBP 40.2 million on EBITDA of GBP 63.3 million – a y-o-y rise of 6 percent.
CEO Henry Birch said the result was a good one for the company, and singled out the digital division’s strong performance despite the introduction of new taxes on customer bonuses.
He said that Rank had, like its rivals, found the high street retail environment challenging, but that overall operating profit had increased 9 percent.
2018 promises to be a busy year with continued positive changes, including the launch of a single account and wallet product across Grosvenor’s retail and digital businesses,” Birch said, expressing confidence that FY expectations would be realised.
The company said that digital performance had increased the urgency to expand Rank’s internet offering, which would soon include the launch of bellacasino.com, a slots-led digital casino brand, in February and Luda.com, set to complement the new Luda venues, later in 2018.
Overall, the company said trading in the four-week period to January 28 had been in line with its expectations.