Webis Regulatory News (WEB)

6 Dec 2006 10:07

betinternet.com PLC06 December 2006 betinternet.com Plc ("the Company" or "the Group") Trading Update The Board of betinternet.com plc ("betinternet.com"), the global on-linegaming group, is pleased to provide a trading update in relation to theCompany's unaudited results for the first six months of its financial year ended26 November 2006. As anticipated, the Company has achieved profitability at an EBITDA level inthis period - an important advance for the business and a significantimprovement on the same period last year. This has been accomplished during avolatile period for gaming companies due to the legislative changes introducedby the US Government for online gaming and the increasingly negative focus onthe sector in certain European countries. European Wagering Services (EWS), the Company's pari-mutuel operation, hasperformed particularly well, with a sustained increase in turnover through ourIsle of Man-based hub. The Board is still awaiting final legal advice regardingits acceptance of certain types of pari-mutuel wagers from the United States,but the initial advice received is that EWS' operations are not affected by thepassing of the Unlawful Internet Gambling Enforcement Bill. In addition, the Company is intending to appoint a new Chief Operating Officerfor EWS with effect from February 2007. Further details regarding thisappointment will be released in due course. The Sportsbook has seen the benefit of the enhanced offering that was introducedin June, with strong additional revenue streams coming from the casino and gameschannels. The focus for this business remains in the Far East, whereapproximately two-thirds of our turnover originates. The betinternet.com websiteis constantly being developed and we are now able to provide a white-labelversion of the website to other potential operators, the first of which weexpect to launch in the New Year. Managing Director, Garry Knowles said "It is very pleasing that we havereached profitability at EBITDA level for the first six months of this financialyear. This is a considerable turnaround from the same period last year and as aresult the Company is now in a much stronger position to take advantage of theopportunities that are available in both EWS and the Sportsbook." For further information: Betinternet.com Plc Garry Knowles, Managing Director Telephone: 01624 698141 Evolution Securities Plc Joanne Lake Telephone: 0113 243 1619 Britton Financial PR Tim Blackstone Telephone: 020 7251 2544 END This information is provided by RNS The company news service from the London Stock Exchange