Gold Coast Fined For Salary Cap Breach Marketing Symposium: Global Sports Events Pacquiao Makes Pro Basketball Debut Executive Transactions West Indies Women Focused On Cricket Real Zaragoza Granted Meeting Swimming Australia Guarantees Bonuses SA Denies Interest In Hosting AFCON London Olympic Stadium Costs Soar IOC Seeking Bid Cities For 2024 Games
SBD Global/September 12, 2012/FinancePrint All
Betfair has "blamed the attention surrounding the Olympic Games for a slow start to betting on the English football season," according to Christopher Thompson of the FINANCIAL TIMES. Betfair said that "net gaming revenues were down" 2% year-on-year in the second quarter to date. Betfair Finance Dir Stephen Morana said, "August was softer than we would have liked due to less interest in other sports and a slower start to the football season. [The Olympics] has detracted from other sports ... there’s been a natural cannibalisation [of business]." The company nevertheless said that "the greatest summer of sport" in the U.K. "helped drive first-quarter revenues up" 13% to £91.6M ($147.2M) in the three months to the end of July. Betfair announced that Morana "would leave the company once a successor had been found" (FINANCIAL TIMES, 9/11).
Second Bundesliga club VfL Bochum "released its financial numbers for the '11-12 fiscal year," in which it generated a €2.2M ($2.8M) loss, according to the SID. The club generated €27.4M ($35M) "in revenue" over the same time period. The loss in profits is "only slightly smaller" than the one during the '10-11 fiscal year. For the '12-13 season, the club "expects a third consecutive loss" of €888,000 ($1.1M). The VfL Bochum has accumulated €6.8M ($8.7M) in debt after two seasons in the 2nd Bundesliga. VfL Bochum Board Chair Hans-Peter Villis said, "Despite our high liabilities, the VfL has a good sporting and economic perspective" (SID, 9/11).