23-02-2007 Betfair Australia reports maiden results

The betting exchange backed by Packer's Publishing and Broadcasting Limited recorded a loss after tax of $4.0 million in the six months to December 31. PBL said the Betfair business continued to grow and build critical mass.

In South Australia, the Independent Gambling Authority could decide as early as next month to order gambling companies to pass on betting records to the Australian Football League, after the SA TAB declined to forward details of betting transactions to the investigators looking into the player gambling scandal.

In Sweden, Betting Promotion, a company offering market making services to internet betting exchanges, announced its results for 2006. The company achieved strong growth throughout the year both in terms of turnover and profit. Gross margin was 0,81% compared to the predicted 0,70%. Betting Promotion estimates that betting turnover and profit will increase by approximately 40% during 2007, with the company focusing more resources in the live betting area.