A note to investors from the analyst team at Goodbody has claimed that Paddy Power remains undervalued by the market, predicting that the Dublin-based bookmaker will continue its sector outperformance from 2011 into the New Year.
Figures that China’s Ministry of Finance released on Friday show that China’s lottery duopoly generated sales of 22.48bn yuan ($3.56bn) in December, capping off a stellar year during which combined lottery revenues from the Welfare and Sports lotteries jumped 33.3 percent to 221.58bn yuan ($35.14bn).
Las Vegas Strip gaming revenues jumped 9.0 percent in November to $495.3m, as casino operators took advantage of higher visitation, increased volumes and a healthy luck factor at the baccarat tables.
While this week's news of an increase in December gaming revenues in beleaguered Atlantic City may appear to represent a Christmas miracle, analysts believe the market’s first growth since August 2008 can be explained by a very favourable prior year comparable.
In a comprehensive overview of the Macau casino gaming market, analysts at Deutsche Bank have predicted that, in a reversal of prior year trends, growth in mass market gaming revenues will outpace that of the VIP sector in 2012.
The Czech Republic’s nascent online sports-betting market almost matched its terrestrial sports betting counterpart with turnover of CZK 7.66bn (€296m) in 2010, according to data released late last year by the country’s Ministry of Finance.
Having last year arrested a sequence of seven consecutive declines in quarterly average revenue per user, Betfair this week reported that sustained focus on high value customers and mobile betting had helped the firm grow the metric for the third quarter in a row.
There were mixed responses among analysts as Bwin.Party Digital Entertainment said in a pre-close trading update on Tuesday that it expects to be among the first group of operators to receive licenses in the soon-to-open markets of Spain and Denmark.
With Germany’s draft Interstate Gambling Treaty likely to be signed later this week by 15 of Germany’s 16 federal states, new analysis published by Investec states that the current landscape “should be seen as a negative for all German-exposed stocks, especially Bwin.Party.”
Following the election of Liberal MP Peter Slipper as Speaker of the House of Representatives, analysts at Deutsche Bank claim that the Australian federal government’s increased majority in the Lower House represents “a slight positive for the gaming sector”.