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?

"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. "

Final results wed 7th Oct '09.

Business Financial Newswire
Online gaming group Sportingbet has reinstated its dividend with a 1.0p final payout.

Sportingbet said in the year to end-July, net gaming revenue was 163.6m, up 13% from the prior year's 144.3m.

The amounts wagered in the year were 1,577m, up 17% from 1,347m in 2008. EBITDA came in at 39.7m, up 28% and adjusted operating profit rose 26% to 31.1m. Group operating pProfit was 21.9m.

Adjusted diluted EPS was 6p, up 415 from 4.2p last time.

The group had net cash of 23.8m at period end. Andrew McIver, Group CEO, commented: 'This has been a very solid year for the Sportingbet Group. We are now seeing consistent profitable growth resulting from the structural changes made following our withdrawal from the US. Our focus on sports betting and geographical diversification is helping to support earnings in these troubled economic times. Additionally, our commitment to offer industry-leading sports betting products and excellent customer service has helped us to recruit and retain core customers. The Group is pleased to recommend the reinstatement of dividends with 1.0p per share as a final dividend for the year just ended.

'The new financial year has started well. Although Australian sports margin is below long term averages it is made up for by strong European sports turnover outperforming budget. The Board remains optimistic for the outcome of the financial year at this stage.

'Talks with the US Department of Justice are constructive and ongoing.

'Finally, I am delighted to announce that it is our intention to move from AIM to the Official List within the next six months, which will provide the basis for our continued growth and success.'

Business Financial Newswire
Sportingbet started with buy rating at Deutsche, target price 84p

Business Financial Newswire
"Sportingbet said its net gaming revenue was up 26% to 48.6m for the three months to end October. However profit for the quarter was impacted by a poor run of Australian horse-racing results.

CEO Andrew McIver said group performance continued to be driven by the European sports betting business, which had seen strong growth in all its key metrics.

European sports NGR rose 56% to 27.2m, with gross margin rising to 11.3% from 10.2% in 2008. European sports bet numbers were up by 42% to 17.4m.

The Australian business continued to benefit from deregulation with the internet business driving up amounts wagered strongly. The business suffered from poor horse racing margins through August and September which had since recovered to more normal levels.

Casino and gaming revenues were benefiting from an increased product range. The European poker market remained difficult with ongoing competition from companies that continued to accept US resident players.

'Trading since the start of the second quarter has remained robust with the additional benefit of Australian margins returning to more normal levels. The group performance to date gives the board confidence with regard to the remainder of the financial year.'

Total amounts wagered were 463.2m, compared with 362.2m a year ago.

Operating profit for the continuing business for the three months was 7.1m (2008 6.5m). EBITDA increased 15.5% to 9.7m. "

Business Financial Newswire
"Internet gaming company Sportingbet says the main trends seen in the first quarter have continued and trading across the business is in line with management expectations.

In his AGM statement, chairman Peter Dicks says the company remains confident of achieving a satisfactory outcome for the current financial year given its geographic spread and comprehensive product range.

The Q1 results announced on 25 November showed growth of 26% in net gaming revenue year-on-year and a 56% increase in the group's core European sports betting revenues.

Sports betting now accounted for 69% of revenue and was expected to be the key driver of growth for the rest of the year. "

Business Financial Newswire
Recent reinstatement of the dividend combined with plans to move from AIM to the full list in Q1 should have further positive rating implications for Sportingbet, says Altium analyst Greg Feehely.

'As and when the settlement with the US DoJ is concluded SBT will be a very attractive M&A target. Whilst we initiate with an 85p price target, any successful bid for the group would need to be comfortably north of 100p share in our view.'

Business financial Newswire
"Sportingbet said amounts wagered on European and Australian sports were both up 26% in the second quarter but margins weakened in February.

Wagers for the three months to January 31 totalled 502.3m, against 398.5m in the previous second quarter. For the first half, the total was up 26.9% at 965.5m.

Net gaming revenue was up 22.3% at 52.6m for Q2 and rose 24% to 101.2m in H1. Q2 EBITDA rose 10.6% to 13.6m, 12.6% to 23.3m in H1.

Adjusted operating profit increased 7.7% to 11.2m in Q2, rising 8.3% to 18.3m in H1.

The group said it had seen an industry-leading European sports gross margin of 10.7% (2008/9: 11.2%).

CEO Andrew McIver said, 'The second quarter is a busy time in the sporting calendar and consequently a material period in the group's financial year. As such it is very pleasing to report results in line with our full-year plan, particularly given the recessionary backdrop in many of our markets.'

The 24/7 in-play World Football microsite was launched in the quarter. The group also concluded a number of IT projects, increasing the the number of betting markets and leading to faster bet settlement. Its Australian business had seen a positive uptake for its new mobile offering.

While amounts wagered on sports in February were ahead of budget, there had been some margin weakness due to a higher percentage of European football favourites winning and a higher goal frequency than average.

Casino, games and poker continued trends seen in the first half of the year.

Management continued to remain confident of the full-year outcome.

An interim dividend of 0.5p has been declared"

I dumped these when I got my money back and won't be returning till the economy improves. I do nevertheless hold LNG and PRTY