Positive Results for Betinternet

Semi-annual report from Webis Holdings Plc shows promising results

The Trading Update issued by online gaming group, Webis Holdings Plc for the first half (May 31 - Nov. 30 2010) of their current financial year, which will end on May 29, 2011, showed some positive movements in various sectors.

Key Highlights:

- Increased turnover for the group's subsidiary and pari-mutuel operation European Wagering Services (EWS) compared to the year before. Still, EWS' higher margin business suffered due to the withdrawal of payment processing services, and the division's trading for the period was below the Board's expectations. However, at the end of the reporting period, an alternative solution put the division back on the track, showing performance in accordance with expectations.

- The North Dakota Racing Commission granted EWS a US pari-mutuel hub operating license. After acquiring the license, the division's expansion plans, which include stronger marketing and development activity, have been actively followed. The major goal of this business action is to set up a presence in the US market, and to boost the level of racing content whose core is EWS' link2bet.com.

- The profitable World Cup led sportsbook operation Betinternet.com back to profitability.

- In addition, Betinternet has introduced an upgrade to its casino and games offering with a new solution from CTXM.

It was stated by the group's board that Interim Report for the period ending Nov. 30, 2010 can be expected sometime in Feb. 2011.

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