Sportingbet PLC reports annual loss

[The Buzz]

Despite reporting an annual loss after losing more than 75 percent of its business due to UIGEA, Sportingbet PLC is still optimistic about its future.

Sportingbet reported a loss of 312.9 million pounds (US$637.5 million, €449.5 million) for the year ending July 31. In the year-earlier period, it posted a profit of 69.2 million pounds. Revenue fell 36 percent to 1.32 billion pounds (€1.9 billion; US$2.69 billion) from 2.06 billion pounds.
But the company, which lost over 75 percent of its business when U.S. legislators outlawed credit card-based online gambling in October 2006, said it was pleased with results from its continuing operations.

Read the AP report here:

http://www.iht.com/articles/ap/2007/...portingbet.php

[matted]

I'm still sour on sportingbet after the way they screwed affiliates a few years ago. Let them sink!

[Schankwart]

When I tried to access their Casino today an update started and the Casino got renamed to "Paradise Casino". Though I was able to log in with my existing details, I think this was pretty strange. They did not even send an email to their customers to inform them about this change.