Ladbrokes corrects Irish results
Ladbrokes has issued a correction notice for its Interim Results for the half year ended 30 June 2008. The Group noted that its "Other European Retail - Ireland" section of the Business Review contained two errors regarding its like for like gross win and cost figures. The text stated that like for like constant currency gross win increased by 1.7% whereas it should have read declined by 4.4%. The text also stated that like for like costs, excluding Turf TV, were up by 2.9% whereas it should have read 5.7%. No other changes were required to be made to the Group's disclosure in the Interim Results for the half year ended 30 June 2008. Ladbrokes is now the largest operator in both Northern Ireland and the Republic of Ireland. The acquisition of the 54 shop Eastwood chain in February and six McCartans shops in April increased our scale in Northern Ireland to 76 shops as at 30 June 2008. The acquisition of a further seven shops in the Republic of Ireland brings our total there at 30 June 2008 to 206 shops. These acquired shops are all rebranded and are trading in line with our expectations. Overall gross win in Ireland increased by 45.1% to £47.6 million reflecting the benefit of the acquisitions and favourable exchange rates. Like for like constant currency gross win declined by 4.4%. During the period under review operating costs in Ireland rose by 59.2% to £28.5 million (H1 2007: £17.9 million) principally due to the increase in shop numbers, with like for like costs, excluding Turf TV, up by 5.7%.

Power moderates profit outlook
When announcing interim results for the six months ended 30 June 2008, Paddy power said that a downturn in the economic outlook had caused it to moderate its operating profit outlook for the full year. The company said; "Much has happened since our last trading update three and a half months ago. The performance of the Irish and UK economies has deteriorated, and the growth rates in our businesses have slowed accordingly. Paddy Power has always focussed on providing better value than the competition, and as our customers face tighter times we have stepped this up in the last three months. In addition, we said last year that the old adage of 'what goes around comes around' applies to sporting results and they certainly have come back around for punters since June with a string of unfavourable results for bookmakers, and Irish bookmakers particularly. These factors have led us to moderate our operating profit outlook for the full year from approximately €82m to €75m, representing growth of €3m over the 2007 level of €72m". Regarding the online segment of the market Power said; "Competition for customers is intense, and pricing aggression has intensified". Telephone customer numbers were up 18% in the first half of 2008 compared to the equivalent period last year, while bet volumes were up 4% to 1.6m. The average stake per bet was €89.97, a decrease of 9%, or 4% in constant currency. Overall, this resulted in the amount staked falling 6%, or 1% in constant currency. Outside of currency depreciation, the reduction in the amount staked per customer was partially driven by increased net migration of customer spending from our telephone to our online channel, as well as increased competition from non retail competitors and, in Ireland, retail competitors also. Non Retail and Retail sportsbook amounts staked have increased by 12% and 2% respectively since the start of July versus last year, compared to growth of 17% and 7% respectively in the first half. .

32Red Plc Results
32Red Plc has announced interim results for the half year ended 30 June 2008. The company reported total gaming revenues of £6.6m, an increase of 26% on H1 2007 and 32% on H2 2007. EBITDA before share option costs totalled £1.0m for the first 6 months, up 17% on H1 2007 and up 13% on H2 2007. Casino revenues of £6.0m, an increase of 31% on H1 2007 and 38% on H2 2007. Active casino players in the first 6 months : 12,283, up 14% on H1 2007 and up 9% on H2 2007 Casino yield per active player in the first 6 months : £491, up 15% on H1 2007 and up 26% on H2 2007. New casino players in the first 6 months: 8,189, up 12% on H1 2007 and up 12% on H2 2007. Casino cost per acquisition in the first 6 months of £137, down 12% on H1 2007 and down 3% on H2 2007

PartyGaming Current Trading
In the 4 weeks ended 28 July 2008, average gross daily revenue was $1,679,700. In poker, new player sign-ups averaged 1,050 per day and there were on average 51,100 active players per day, generating average gross daily revenue of $855,300. In casino, average gross daily revenue was $739,100 while in bingo it was $28,800. In sports betting, gross win per day averaged $56,500. In the following 4 weeks, ended 25 August 2008, average gross daily revenue was $1,523,600, reflecting the peak holiday period in a number of key markets and temporary technical difficulties experienced during the month. In poker, new player sign-ups averaged 936 per day and there were on average 50,600 active players per day, generating average gross daily revenue of $815,400. In casino, average gross daily revenue was $649,000 while in bingo it was $26,500. In sports betting, average gross win per day was $32,700. It is estimated that in the week ended 24 August 2008 PartyPoker.com had approximately 8% of the global online poker market (versus approximately 12% in August 2007).

Leisure&Gaming Results

Leisure&Gaming has announced results for the 6 months ended 30th June 2008. In total, the amounts wagered on all of the company's products for the six months to 30th June 2008 were €41.3m (2007: €65.4m), earning net win of €11.5m (2007: €13.9m) generating a net win margin of 27.8% (2007: 21.3%). Amounts wagered on sports betting were €37.4m (2007: €56.9m) generating a net win of €10.0m (2007: €10.9m) at a net win percentage of 26.7% (2007: 19.2%). Amounts wagered on horses was €1.9m (2007: €5.1m) generating a net win of €0.6m (2007: €1.3m) at a net win percentage of 31.5% (2007: 25.5%). Amounts played on casino products were €18.7m in plays (2007: €34.3m) generating net win of €0.6m (2007: €1.1m). Amounts played on lotto and skill games were €1.4m (2007: €2.3m) generating net win of €0.3m (2007: €0.6m). The company said that in the 6 months to 30th June 2008 the number of sports bets placed by customers was 3.9m (2007: 5.2m) at an average bets size of €9.58 (2007: €10.93).

Belgian GP
I think Raikkonen is a decent bet to win the Belgian GP @ 9.4 on Betfair. He has a great record there, having won the last three and won it many times in other types of racing. He has nothing to lose and will go flat out - he has to win this to have any hope of the championship and knows that he will have to follow team orders (i.e. allow Massa to win) from this race on if he does not win it. Massa and Hamilton will be more careful, and will be happy to be more tactical and to take second/third.

For H1 2008 888 Holdings has reported Total Operating Income of $135 million (H1 2007: US$97 million) and Profit Before Tax of US$26 million (H1 2007: US$19 million); "Our Total Operating Income for the first half of 2008 is only 14% short of our entire revenue (US$157 million) in 2006, and is 40% up year on year, which demonstrates the pace of growth we can generate. Pleasingly, we have achieved this increase in Total Operating Income with significant profit growth. Profit Before Tax1 has increased to US$26 million in the first half of the year (H1 2007: US$19 million). Basic earnings per share1 of 7.1 cents is 37% above H1 2007 (5.2 cents per share) and demonstrates clearly that with significant revenue growth we can also expand our margins and ensure further profitability. These are very good results and in accordance with our stated dividend policy set out at the time of our 2005 flotation, we will be paying an interim dividend of 2.5 cents per share representing a 39% increase on H1 2007 (1.8 cents per share)."