Sportingbet Plc profit increase

[dave nz]

March 3 (Bloomberg) -- Sportingbet Plc, operator of the Paradise Poker Internet gambling site, said fiscal second- quarter profit rose 18 percent as soccer betting increased.

Net income was 9.3 million pounds ($14 million), or 1.8 pence per share in the three months ended Jan. 31, from 7.9 million pounds, or 1.6 pence per share in the same period a year earlier, the London-based company said today in a statement on the Regulatory News Service. Sportingbet is “confident of the full-year outcome,” the company said in the statement.

Sportingbet is trying to attract more sports wagers by encouraging customers to bet during matches. It introduced a 24- hour soccer news site today and added more South-American game coverage. The increase in sports betting helped to compensate for a slump in the competitive European poker market.

“The group continues to deliver industry-leading sports margins, strong growth in net gaming revenue, and record numbers of active customers,” Chief Executive Officer Andrew McIver said in the statement.