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Betcorp

Company overview
Betcorp is a leading US-facing operator of sportsbetting, casino, poker and skill games via the internet and telphone. It listed on AIM in March 2006, having been listed on the Austrailian Stock Exchange for several years.
Date Reports available Download
Aug 15
2006		 Good results
Profits to June 2006 were ahead of the forecast in our July Outlook, with improved margins and successful cross-selling of casino and poker. Betcorp’s customer base is now more recreational and the decision to cease accepting US telephone bets is not expected to have a material effect on profits. Sector ratings have fallen sharply since the DoJ indictment of BETonSPORTS (BoS) last month, and regulatory concerns may continue to depress the valuation near term.
Research type: Update - Interim results		 Log in to download
2 page note available
Jul 12
2006		 Acquiring and integrating
Betcorp has achieved a significant turnaround in profitability since 2004, with improved margins and successful cross-selling of casino and poker, although there is still work to be done on the sportsbook. The acquisition of Oasis should provide immediate integration savings and opportunities for cross-selling. Regulatory worries may continue to depress the share rating over the next few months.
Research type: Outlook - Acquisition and Trading		 Log in to download
12 page note available
Apr 21
2006		 Momentum maintained
Betcorp's Q1 results showed continuing strong growth in earnings. New management, brought in after the group incurred losses during 2004, has refocused Betcorp towards the recreational bettor and improved gaming margins. Results are also benefiting from successful cross-selling of sports, casino and poker products. The online gambling market is growing rapidly and Betcorp has considerable scope to grow both organically and by acquisition, although regulatory concerns may continue to affect sentiment towards the online gambling sector from time to time.
Research type: Company Comment: Q1 results		 Log in to download
2 page note available
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