Oct 04th 2012 - Edison Investment Research today published a report on Sportingbet (SBT.L, LSE:SBT, LON:SBT) entitled "Transformed". In summary, the report says:
Final results reflected the significant shift in the business during FY12, with the acquisition of Centrebet in Australia, sale of the Turkish-facing website business and new taxes in regulating markets. There is much greater clarity for FY13, with 80% of revenues now coming from regulated or taxed markets, the Australian business fully integrated and growing strongly and European cost cutting sufficient to “produce a profit at budgeted revenue levels”. The market is awaiting further news on the approach from William Hill and GVC and as a connected party under Takeover Panel rules, we are unable to publish estimates.
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