Losses Reported by Betclic Everest Online Gambling Group

Losses Reported by Betclic Everest Online Gambling Group Net deficit almost doubled to Euro 33.2 million

Annual financial results presented on Wednesday show that Betclic-Everest online gambling group, half-owned by Societe des Bains de Mer, recorded losses almost doubling the net deficit to Euro 33.2 million.

Operating income before depreciation from April 1, 2011 to March 31, 2012 marked a drop of 16% y-o-y, whereas operational losses rose by Euro 6.7 million compared to the last year.

SBM declared a loss of Euro 50.2 million against its stake in the betting group. According to the owner, the result was attributable to the ‘implementation of a particularly stringent taxation system’, operational level ‘penalties’ related to the opening conditions of the French online gaming market and the ‘load related to remuneration of intangible assets and support for this period’s partial depreciation of goodwill noted by the participation of Everest Limited’.

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