interactive gaming the star performer in Gala Coral results
News on 23 Aug 2013
News on 23 Aug 2013
Results for the 12 weeks to July 6 2013 have been posted by the UK land and online gambling group Gala Coral, showcasing an outstanding performance from the group’s interactive interests, which saw earnings soar 25 percent to GBP 6.6 million.
As a group, Gala Coral gross profit rose 3 percent to GBP 193.9 million in the company’s third quarter 2013, with earnings in the three month period up 7 percent to GBP 57.4 million and net debt reduced GBP 128.9 million to GBP 1.193 billion following the sale of 19 land casinos to the Rank Group for GBP 179 million .
Group turnover increased by 9 percent year-on year to GBP 259.1 million compared to last year’s GBP 237.1 million.
The interactive division was a star performer, reporting:
* Earnings up 25 percent to GBP 6.6 million
* 15 percent rise in active customers to 197,100.
* Coral Interactive delivered a 105 percent increase in gross profit to GBP 3.9 million following a 41 percent increase in active player numbers.
* Gala Interactive achieved a 28 percent increase in active customers, driving a 44 percent increase in wagers and a 27 percent rise in gross profit to GBP 2.6 million.
* Sports betting turnover up 160 percent to GBP 67.4 million and gross win up 119 percent to GBP 4.6 million.
* 424 percent surge in Gala Casino’s active customers to 38,800.
* Casino turnover up 128 percent, with gross win rising 190 percent and gross profit leaped rocketing up188 percent to GBP 2.1 million.
* Gala Bingo actives were up a more modest 4 percent, generating turnover up 23 percent, and gross profit gained up 13 percent to GBP 10.3 million.
* Eurobet Italia online sportsbetting pushed its market share up to 9 percent from last year’s 7.2 percent.
Across the group, the results were positive with the exception of Gala Retail, which recorded a 9 percent decline in gross profit, in contrast to Coral Retail, which saw a 4 percent rise.
Group CEO Carl Leaver said the performance of both Coral Interactive and Gala Interact was noteworthy, and that it is being supported by an increased level of marketing that will drive growth into the next financial year.
