The current financial year is now into the 3rd
quarter and it is very mixed all round the world as to how people, companies, countries and more are performing.
Portugal facing a struggle with their online gambling numbers
The overall revenue from online gambling in Portugal is reported to suffered a substantial drop, substantial being around an 18% decrease, equivalent to around €31,000,000, from the previous quarter.
There are different areas involved in these calculations, all with their own percentage based contribution / losses towards this overall disappointing figure, with Slot play leading the downward spiral with an worrying 38% contribution towards the loss of revenue, with sports betting suffering a 20% decrease itself – all in comparison to the Q1 of 2017.
Poker in Portugal was thought to be a forward thinking move and when approving Poker Stars last year, the future looked bright with good numbers and popularity looking to support the decision to improve the license. However, the poker rooms have been becoming more and more unpopular ever since and the 32% drop from quarter 1 only going towards supporting the claims that it just isn’t appealing enough to the Portuguese online gambling world.
William Hill on the up in Q1, Q2 and H1!
On what is a polar-opposite to the Portugal aspect, William Hill, one of the leading UK gambling providers, has announced a quite impressive growth during quarter 2 and for the first half of this financial year with an increase of around 3% on net revenue.
William Hill have seen upward movements across all four divisions of service and increases specifically with the UK online market in sportsbook amounts being wagered and the values spent in online Gaming.
Having recently, in 2016, signed different partnerships for covering British Racing and thus seem to be revelling in the benefits of doing so, William Hill CEO Philip Bowcock states that the targets of £40m annual savings for the 2017 financial year are looking to be easily met and surpassed with a bright outlook for the rest of the year after such a fantastic start.
IGT on top after beating Wall Street estimates!
Switching gears to look at the revenues and competition in the different area of online gambling; IGT (International Gaming Technology) have reported a strong Q2 and are estimated to have beaten Wall Street.
With growth in its gaming and lottery segments, reporting Q2 net revenues of around $1.22 billion, they are around 3% ahead of the general estimates set by Wall Street and the adjusted EBITDA of $424 million which was 9% higher than the US financial centres consensus.
Big numbers and big statements with them. IGT CEO Marco Sala has said then the “Q2 results reflect strong key performance indicators for both our global Lottery and Gaming businesses” and they are, quite rightly, beyond pleased with the performance in the first quarters and the first half of this year.
Debts are being lowered, operating income rose in 22 by around $21 million and their cash generation is being enhanced through efficiency and disciplined management. It’s looking to be a great year so far for IGT and the projections for the rest of 2017 look great if it continues in this upward motion.