Anyone holding these? Evil K drove the price right down and now they seem to be recovering---are they worth considering now they seem to have sorted out their finances?

Following heavy selling yesterday (23m shares traded). Looks like a bit of buying in the bounce.

No. PRTY up 16% at one point, SBT 20% so there are obviously rumours of consolidation in the sector.

LONDON (Thomson Financial) - "Sportingbet Plc. said it is confident of meeting full-year expectations after third quarter underlying operating profit increased 143.3 percent to 7.3 million pounds and operating margin hit 17.9 percent from 8.9 percent a year previously.

The online bookmaker added that it sees greater betting volumes stemming from the Euro 2008 football championships but added that the predictable nature of such tournaments can often result in low returns to the bookmaker."

Yes but it also said unfortunately that it's discussions with the USA (over any fine?) may not end favourably.

I don't believe it can be taken over until these discussions are concluded.

LONDON (Thomson Financial) -" Evolution Securities has named Sportingbet Plc. and Sportech Plc. its top picks in the online gaming sector, initiating both with 'buy' ratings.

In a note, the broker said given that the sector is to legitimise and consolidate, it thinks share prices will soar.

It sets a 73 pence price target on Sportingbet and 135 pence target on Sportech, both around double their current share prices."

"Sportingbet Plc will be announcing full year results for the twelve months ended 31 July 2008 on Wednesday, 15 October 2008. There will be a presentation for analysts and investors at 09.30 at the offices of Smithfield Consultants, 10 Aldersgate Street, London EC1A 4HJ."

MoneyAM: "Sportingbet, the online sports betting and gaming group, today announced net gaming growth of 23%.

In its audited results for the year ended 31st July 2008, the company said net gaming revenue grew 23% to 147m and operating profit more than trebled to 22.7m.

Sports betting net gaming revenue growth of 45% was driven by increased product range and strong performance in Europe and Australia

The company said its strategic review of marketing partners was completed with Spanish and Bulgarian marketing brought in-house.

Sportingbet said it has made a solid start to new financial year, with revenue growth in excess of 30% in first two months.

The company ended the year with net cash of 28.6m."

"Sportingbet today reported pretax profit of 4.9m for the first quarter ended 31st October 2008.

The online sports betting and gaming group revealed net gaming revenue growth up 28% to 38.9m, with sports betting net gaming revenue growth of 34%.

Operating profit was up by 45% to 6.1m. The form had net cash of 19.5m at the period end.

Andrew McIver, Group CEO, commented: 'Performance during August, September and October has provided a solid start to the new financial year with Net Gaming Revenue growing by 28% and operating profit by 45% to 6.1m.

As the business enters its busiest two quarters, our focus will continue to be on the provision of quality and value sports betting services to a globally diversified customer base. This core revenue stream will continue to be supplemented by our additional casino, poker and games offer.

Whilst sports betting has historically shown itself to be 'recession hardy', no industry is 'recession proof'. Unfortunately there is also no empirical data with regard to the online casino and poker industry to estimate what the impact of an economic downturn may or may not be on these products. That said, customer metrics remained very robust both during the quarter and in the four weeks since it ended. As such the Board remains cautiously optimistic in achieving the Group's full year forecast."

"Sportingbet said today trading has been in line with management expectations since the end of the first quarter. The group has completed the move of its European operations to Guernsey and enhanced customer service operations in Dublin.

Q1 results saw growth of 28% year on year in net gaming revenue and a 45% growth in adjusted operating profit to 6.1m for the quarter.

Looking to the balance of the year and beyond, sports betting continues to be the key driver of our business, accounting for 64% of net gaming revenue. Within the sports product offering, the 'in:play' product offering now represents 49% of all sports bets.

At the end of October the group launched live streaming of sport on its websites to further complement this product. Early results are encouraging, Sportingbet said.

In the coming months, the online sports betting company plans to launch websites targeting the South African and Romanian markets.

The company said since the end of the first quarter, trading across the business continues in line with management expectations and it is confident that given the Group's geographic spread, strong sports offering and comprehensive product range it remains in a good position to weather the current economic downturn.' "

It would be nice if the sp rallied though wouldn't it Harry.

No chance in this market :-(

Up 16% today so far, but mystery why. RNS due hopefully today to explain.
Although may just be broker upgrades as both PRTY & 888 are also up, but by a lesser %age.

http://www.ft.com/cms/s/0/cd7e0ab2-caf2-11dd-87d7-000077b07658.html

Tis to do with today's statement by PRTY with regard to settling with the US

Still rising steadily, almost one for the green shoots thread:

MoneyAM
"Sportingbet said operating profit was up by 35% to 10.1m in Q2 ended January 31st 2009.

The operating profit margin is now at 23%.

Pretax profit for Q2 came in at 8.3m, up 131% from 3.6m the prior year, with revenues up 6% to 43.6m.

Adjusted fully diluted EPS were up 36% to 1.9p.

For the half-year, net gaming revenue was 82.5m, up 15%, with pretax profit up 500% at 13.2m, compared to 2.2m the previous year.

Operating profit was up by 39% to 16.2m with adjusted fully diluted EPS up 32% to 2.9p.

The firm had net cash of 27.3m at period end.

Andrew McIver, Group CEO, said: 'Quarter two concluded a robust first half of the financial year, with operating profit in the six months growing 39% to 16.2m. The Group's balance sheet remains strong with net cash of 27.3m. Demand for our market leading sports betting product continues to grow. Whilst there are some signs of the economic downturn impacting upon some areas of our operations, such as Australian higher staking telephone business, our overall performance remains encouraging. The third quarter has started strongly and the Board remains cautiously optimistic for the full year outcome'."

"The Company (SBT) has today issued a further 11,590 new Ordinary Shares to satisfy obligations to its employees under certain of the Company's equity incentive plans. An application has been made to the London Stock Exchange today for listing and these Ordinary Shares to be admitted to trading on or before 27 March 2009 and will rank pari passu with the existing Ordinary Shares.

As at the date of this notification its capital consists of 480,573,410 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in Treasury.

The total number of voting rights in the Company is 480,573,410."

MoneyAM
BROKER NEWS "Sportingbet started at KBC Peel Hunt with a buy rating and 64p target price"

Business Financial Newswire
"Online gaming group Sportingbet said operating profit was up by 34% to 9.8m in the third-quater ended April 2009. Operating profit margin now stands at 22.4%. The firm said adjusted fully diluted EPS was up 50% to 1.8p and wagers up 18% at 431.7m.

The company had net cash of 31.3m at period end.

Andrew McIver, Group CEO, commented: 'Sportingbet continues to make significant progress, in terms of its profitability, growth in core markets and new emerging territories, and in its focus on delivering an industry leading sports betting product.

'We leave the third quarter with operating profit for the year to date of 26m compared to 19m at this time last year, an increase of 37%.

'The fourth quarter of the year is a seasonally quieter period for the Group as a result of the winding down of the European football leagues, leading to reduced sports betting activity. This year, the quarter has started strongly and May has seen solid growth in both sports betting turnover and sports margin. This promising start to the quarter, in conjunction with the strong nine month results reported today, enables the Board to be cautiously optimistic for the full year outcome. "

In the W/E FT:
"Broker Daniel Stewart advised clients to buy, citing the possibility of corporate activity when the on-line gaming company has settled it's issue with the U.S. dept of Justice.
We believe that a DoJ deal is near a certainty, probably within the next three months and it will allow the group to potentially re-engage in talks with sector peer B-Win Holdings."

Business Financial Newswire
"Sportingbet has sold its loss-making Italian operation, Sportingbet Italia, to the local management team for a nominal amount.

During the first eleven months of the current financial year, Sportingbet Italia generated an operational loss of 1.5m, taking 13.7m in bets and producing 2.0m of net gaming revenue.

The operation was acquired by the group in 2006 in anticipation of further liberalisation of Italian online gaming regulation including an increase in the maximum payout from 10,000, a relaxation of the stipulation to use specific software and permission to allow in-running betting.

'These changes did not materialise. Instead, the Italian government created a new offline model by tendering over 13,500 shop-based licences.

'Consequently, the combination of this new alternative channel for the Italian customer together with the lack of operational synergies with the rest of the group's European business has meant Sportingbet Italia has been loss-making since acquisition.'

The disposal is likely to result in an exceptional cost of 7.1m, which comprises the write down of goodwill of 6.4m and a loss on disposal and other associated costs of 0.7m. The group's cash balances will be reduced by 1.6m as a result.

Sportingbet plans to announce its results for the year ending July 31 on October 7.

The company says the positive start to the fourth quarter reported in June has continued, with good growth in gross gaming revenue and margins being maintained. It remains confident of achieving full-year forecasts. "