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Performance is Positive

Competition in the online casino gambling industry has gotten really tough in the past couple of years as one major market closed and the others are only slowly opening. The US market is no longer viable and companies like Sportingbet are still working to optimize the company’s performance and strategy for the established European and emerging Asian markets. The latest news from Sportingebt though is largely positive, the company announced a lift in net gaming revenue and pre-tax profits for the first quarter.

Many new online casinos and sportsbetting sites have attempted to enter the market in the past year, but companies like Sportingbet are increasingly able to retain a large share of the market with creative marketing campaigns and some careful monitoring of the company’s business strategy and quarterly spendings. The company released a Q1 report that reported a 28 percent growth in the company’s net gaming revenue. Additionally, pre-tax profit was definitely decent coming in at GBP 4.9 million.

The online casino gambling industry has been particularly lucrative over the past year; the sportsbetting industry on the other hand is a bit of a different story according to Sportingbet’s CEO, Andrew McIver. McIver elaborated on the future of the industry during this economic downturn, "Whilst sports betting has historically shown itself to be 'recession hardy', no industry is 'recession proof'. Unfortunately there is also no empirical data with regard to the online casino and poker industry to estimate what the impact of an economic downturn may or may not be on these products.”

The recession in the US has been confirmed and there is no telling how long the troubling economic situation may last – Sportingbet has been really tightening up parts of the company as a way to weather the pending storm.