Brit sportsbook predicts better profits

Online gambling group Sportingbet was in buoyant mood this week, predicting that profits in the final quarter of the year would be better than it expected, fuelled by growth in customer numbers and solid sports, casino and gaming margins.

Releasing a trading report, the group said it made good progress across all parts of its business during the seasonally quiet final quarter of its financial year, and it expects operating profit before goodwill amortisation for the year ended July 31 will be at least GBP 60.5 million.

Sportingbet reported that it has bought Antigua-based ISC Entertainment, the owner of U.S. sports betting and gaming marketing operations, including mysportsbook.com, for an initial outlay of $33 million or GBP18.6 million, and a possible further $6 million depending on performance.