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Alphameric Hit by Changing Market

The sportsbetting industry is changing just as rapidly as the online casino industry, and as a result, some companies are losing revenue because they do not adapt new marketing platforms and products in time for the change in target market. Online casinos have seen a huge surge in the past year, and at the same time, many internet gambling companies were forced to completely redesign and refocus the company’s goals as the market for internet gambling changed virtually overnight. Now, Alphameric, a sportsbetting software provider is slightly behind that same situation occurring in the betting industry.

Alphameric has calculated the company’s six month results, and have announce a loss of GBP 1.8 million – and that is before the company pays taxes. Many found this surprising since the company reported an over GBP 3 million profit for 2006. And add to that that Alphameric has cut overhead costs during this six month period 10 percent compared to the same period a year before, and the company appears to need some serious redirection.

But before it begins to look to bleak for Alphmeric, many online casino companies were in the same situation just 8 months ago when the U.S. backed out of the internet gambling market. And many of those companies were able to stabilize again and turn around profits.

The company has appointed Peter Bertram as Group Chairman in light of these six month results, and he commented on the current situation. "The Group's core Leisure and Hospitality businesses are both well founded and positioned within their respective markets, but equally both need to adjust to the changing marketplaces in which they operate. This process of change is under way and it is the Board's intention that it is carried through as quickly and effectively as possible. I believe that the actions that we are currently undertaking, combined with the ongoing strategic review, will, in due course, deliver value for all of the group's stakeholders.”

Alphameric is now a merged company consisting of Alphameric Leisure and Alphameric Hospitality. The company is well known in the online casino and sportsbetting industry and boasts some of the top betting companies in the industry including: Betfred, Coral, Ladbrokes, Stanleybet, Totesport, and William Hill.