INTERACTIVE GAMING THE STAR PERFORMER IN GALA CORAL RESULTS
22nd August, 2013 at 16:39:56
Interactive earnings soar
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% to £ 6.6 million.
As a group, Gala Coral
gross profit rose 3% to £ 193.9 million in the company's third quarter 2013, with earnings in the three month period up 7% to £ 57.4 million and net debt reduced £ 128.9 million to £ 1.193 billion following the sale of 19 land casinos to the Rank Group for £ 179 million (see previous reports).
Group turnover increased by 9% year-on year to £ 259.1 million compared to last year's £ 237.1 million.
The interactive division was a star performer, reporting:
* Earnings up 25% to £ 6.6 million
* 15% rise in active customers to 197,100.
* Coral Interactive delivered a 105% increase in gross profit to £ 3.9 million following a 41% increase in active player numbers.
* Gala Interactive achieved a 28% increase in active customers, driving a 44% increase in wagers and a 27% rise in gross profit to £ 2.6 million.
* Sports betting turnover up 160% to £ 67.4 million and gross win up 119% to £ 4.6 million.
* 424% surge in Gala Casino
's active customers to 38,800.
* Casino turnover up 128 percent, with gross win rising 190% and gross profit leaped rocketing up188% to £ 2.1 million.
* Gala Bingo actives were up a more modest 4 percent, generating turnover up 23 percent, and gross profit gained up 13% to £ 10.3 million.
* Eurobet Italia online sportsbetting pushed its market share up to 9% from last year's 7.2 percent.
Across the group, the results were positive with the exception of Gala Retail, which recorded a 9% decline in gross profit, in contrast to Coral Retail, which saw a 4% 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.
Related News Tags: Land Casinos, Coral, Gala