Webis to miss FY forecasts

13th Jul 2010 07:13

Online betting group Webis warned that trading for the full year ended 30 May 2010 will be significantly below the group's previous expectations."This fall was primarily as a result of the previously notified reduction in casino play, where the 'high-roller' business that the operation had previously benefited from dropped away," Webis explained.The group's sportsbook operation, betinternet.com experienced a significant fall in turnover during the year. Nevertheless betinternet saw a better than expected increase in turnover for the World Cup with very favourable margins, particularly during the early group stages. The group's pari-mutuel operation, European Wagering Services, saw another increase in turnover, although increased competition in B2B business led to a slight reduction in the overall margin percentage, Webis said.