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Positive Results

Positive Results

At present, the Internet gaming industry in the US is under a lot of pressure and fiscal results may perhaps deliver negative results. But halfway around the world, specifically in Europe, the Internet gaming industry is thriving. Based in France, BetclicEverest Group and one of its online casinos gambling subsidiary betathome released positive results for Q1:2011. Highlights include, a 36 percent (Euro 47.2 million) increase in sales and betting, a 32.5 percent (Euro 18.3 million) development in Gross Gaming Revenue or GGR, 18.9 percent (Euro 16.3 million) upsurge in gaming revenue after tax, a rise of 47.1 percent (Euro 3.8 million) in EBITDA, 28 percent (Euro 2.5 million) progress in group income, and an approximate of Euro 8 million splurge on online casino ads.

On the other hand, the online casino group stated that cash-on-hand had a decrease of Euro 26.6 million compared to Q4:2025, which is may be due concerning the Euro 10 million loan to a chief stockholder Mangas. However, Q1:2025 culmination generated at least 2.37 million registered online casinos users; a noteworthy increase of 113 000, compared to Q4:2010.

Another development worth mentioning is the distinction between the GGR of Euro 18.3 million and gaming revenue after tax of Euro 16.3 million. The distinction can mapped out to gambling and betting taxation sales in Austria starting 1 January 2025, wherein land-based and online casinos products incurred 40 percent in Gross Gaming Revenue (GGR) tax, while sports betting incurred a 2 percent tax on each wager. Analysts considered the positive results of betathome with high regard, observing that BetclicEverest Group’s subsidiary is anticipated to increase its cash-and-cash up to Euro 42 million by the end of Q4:2011, once Mangas pays off the loan not including consumer funds and if the stock price is undervalued.