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’.
Losses Reported by Betclic Everest Online Gambling Group
Back
General Gambling News
Gambling Law & Society News
Back to articles
Was this article helpful?
Your Feedback
Please enter your comment.
Your comment is added.
All Article Categories
- General Gambling News (6766)
- Casino Games (5496)
- Gambling Law & Society News (3471)
- Casino Software (3040)
- Tournaments, Promos & Bonuses (1366)
- LCB News (945)
- Sports Events (835)
- Land Based Casino News (622)
- Casino Banking (289)
- Bitcoin (279)
- From the Players for the Players (164)
- Casino Warnings & Rogue Reports (109)
- LCB Monthly News Reports (86)
- Upcoming new casinos (73)
- LCB Approved Casinos (33)
- Sportsbook Sponsorship (27)
- Predatory Terms (15)
- Upcoming Sporting Events (4)
- Live Sports Betting (1)