The most influential operators in egaming 2010： Power 50

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The most influential operators in egaming

The first ever Power list we produced was in 2004 and consisted of 25 companies. The following year, and every year since, it has been known as the Power 50 -The world's 50 most powerful operators in egaming ranked on scale, reach, diversity and influence. Leap forward to 2010 and we still review the world's biggest and most influential operators on these criteria but this year we have added two further categories： financials over the past 12 months and a measured judgment on strategy and deliverability. An increasingly competitive environment, the costs associated with entering regulated markets and the length of time it takes for initial investment to be returned, mean that it is now more important than ever to run a profitable, stable and futureproof online gaming business. So, who are the most influential egaming businesses in the industry today? This year we have a new number one. After a mixed year, Bwin makes way for privately run and family-owned Bet365 that has had a phenomenal 12 months according to the financial information we have examined. Its in-play products are arguably the best in the business; it has among the most diverse gaming portfolios in the industry; its global presence is indisputable; it had one of, if not the best World Cup advertising campaign and has been influential in its mammoth sports marketing strategy, being seen by virtually every sports fan in the world; carries no debt and has one of the healthiest profit margins and balance sheets not just in gaming but in business. We hope you agree it deserves its place at the top in 2010.


POWER 50: THE CRITERIA

Financials: Financials account for 40% of our overall weighting and are judged on operating profit, net gaming revenues or NGR, financial stability and total amounts wagered. Strategy is judged by thoroughly examining the past 12 months and determining whether or not individual company key goals have been met. We commissioned a leading independent accountant with knowledge of the industry to examine the annual figures of every listed company in our sector. Within that we have scored each company out of 10. In some cases financial years may differ, however wherever possible the most up-to-date 2010 annual figures were used.
(Score out of 40)

Strategy and deliverability: Judged by eGR with input from analysts. In the past 12 months, has the company set out and achieved its strategic objectives? Has the board delivered on its promises and have results and customers grown as a result?
(Score out of 20)

Geographic reach:  Judged by  eGR. How much legitimate reach does an operator have within regulated and non-regulated markets? With investors placing a premium on earnings from regulated markets, companies are marked down for operations in black and arguably grey markets including the US, Germany and China.
(Score out of 15)

Influence:  Judged by a panel of marketing experts including Gav Grimes of McBoom. How widely recognised, valued and trusted a brand is determines its popularity and eventual profitability. Also, which operators have successfully gone that extra mile to market their brands and generate more customers as a result?
(Score out of 15)

Diversity:  Judged by eGR. The more diverse a business, the more stable it is and the more chance it has of broadening its appeal and customer reach and of generating higher revenues.
(Score out of 10)

第一名：BET365 (4)
Private

Financials: Operating profit of £104m for year to end of March 2010, revenues of £358m and total amounts wagered of £5.4bn. No debt.

Strategy and deliverability: Best in-running offering in the sector, constant investment in new products. Rapid decision making due to private, family-owned business structure.

Geographic reach: Global. Substantial presence in Asia contributes to scale but loses the operator points in eGR’s ranking for stability.

Brand and influence: Gav Grimes: “Innovative, in both product and marketing. Strong brand perception, in particular among football fans, and immaculate execution.”

Diversity of product: Sports betting strength complemented by full suite of products.

Total: 87/100

The Coates family-owned, Stoke-based and highly private Bet365 is our new number one in this year’s P50, earning the respect of its peers for consistent and rapid growth, market expansion and a phenomenal £5.4bn wagered on its ites, a figure released exclusively to eGaming Review by the company’s owners. In April, The Sunday Times found it had the third fastest-growing profits of all private companies in Britain, according to its Track 100 league table. Its in-play products are arguably the best in the business, its geographic reach is unsurpassed, its brand influence seen in every Premier League and league football ground and on major television networks around the world and it continues to add to its already vast product portfolio.

第二名：PARTYGAMING (2)
Listed

Financials: Operating profit of £60.3m to 30 June 2010 and NGR of £307.5m. Our independent accountant scored Party lower on stability due to low profit margin and high operating costs, and on amounts wagered (£585.6) due to lack of world-class sportsbook.

Strategy and deliverability: In 2008, CEO Jim Ryan laid out three-year plan to become world’s most valuable egaming company and top three in four main products. He remains on track to succeed.

Geographic reach: Enhanced global footprint with launch of French poker network, and casino, bingo and poker in South America under Azartia brand.  

Brand and influence: “Industry heavyweights. Acquisition not brand expansion appears to be the corporate strategy, but innovative use of engagement creative online.”

Diversity of product: Weakness in sports compared to bingo, poker and casino soon to be addressed by Bwin merger. Recently added fixed-odds financial betting.

Total score: 84/100

It is hard to disagree with analyst Nick Batram of KBC Peel Hunt’s observation that: “Under Jim Ryan, Party has made bold calls and delivered what he said they were going to deliver, without impairing the bottom line.” The past year has seen the operator develop its B2B business, while the merger agreement with Bwin promises to deliver all-important scale and a world-class sportsbook. The company reoriented its casino strategy to acquire players directly rather than through cross-sell, increasing yields per player and relieving pressure on poker liquidity. It prepared for US re-entry by obligating shareholders potentially standing in the way of any deal to liquidate their position and through leveraging its dot net site and WPT brand in the US.


第三名：POKERSTARS (-)
Private

Financials: Estimated figures seen by eGaming Review show revenues of around US$1.1bn in 2009 and a similar figure being achieved for 2010, however the more markets it enters the more this potentially dents its bottomline, with estimated revenues falling consistently short of the US$1.4bn achieved in 2008.

Strategy and deliverability: Several new licences in regulated markets, including strong positions in France and Italy. Hired first chief executive in ex-Dragonfish MD Gabi Campos (pictured below), withdrew from the state of Washington following a court ruling and backed the Frank Bill. A “legitimisation” strategy appears to be under way.

Geographic reach: Remains in the US and shows no signs of exiting. New licences in Estonia and France following its Italian licence award in late 2008.

Brand and influence: “Its run-ins with the DoJ don’t matter. Along with Tilt, it owns the rest of the planet as far as poker is concerned and is streets ahead of anyone else, with advertising buying power that dwarfs all but a few.”

Diversity of product: Has no need to diversify in product, only in markets. Retains number one position in poker and is among the top three brands in egaming, if not the strongest.

Total: 82/100

A controversial choice for many due to Stars’ refusal to budge on post UIGEA positioning while many others fled, settled or both. Indeed, while arguments continue to rage about the legality or otherwise of territories in which operators from the dot com era remain, the sheer scale of Stars’ liquidity advantage and approximately 30% of its revenues generated from the US makes it impossible to judge its strategy on a level playing field with other poker operators. For this reason, it simply could not be placed any higher. But with its leading positions in an increasing number of regulated markets, its huge brand strength and influence, global reach and leading poker product, it could no longer be omitted.


第四名：MANGAS GAMING (7) Private

Financials: Strong on NGR (£339m) and amounts wagered (£3bn) but fared badly on operating profit (£21.9m) due to huge operating costs, in the opinion of our independent accountant. Stability below average due to poor efficiency ratio.

Strategy and deliverability: Acquired poker operator Gioco Digitale to gain Italian foothold and entered France on B2C and B2B basis. Unfortunate with cash poker and casino delay in Italy.
Geographic reach: Footprint bolstered through launch of sports betting and poker in France.

Brand and influence: “Bwin has developed a seriously powerful brand in Europe thanks to high-profile football sponsorships and a desire to be the voice of the industry on legal issues.”

Diversity of product: Strength in sports, casino, poker and games. No bingo product due to consumer tastes in core main European markets.

Mangas climbs three places following a year that saw it gain regulated entry to its core French market for flagship brand BetClic and acquire the number three French poker room Everest Poker. Its balance street was strengthened by a capital increase that sawinvestment house Louis Dreyfus enter the shareholding. This private backing lends itthe firepower for above-the-line branding exercises aimed at grabbing market share, asreflected by a raft of football sponsorships in Europe. While Mangas CEO Nicolas Beraudhas been critical of the tough conditions imposed on new entrants by French authorities,BetClic’s backing and its 40% market share of sports betting in the opening months ofthe market make it odds-on to be one of the few operators Beraud predicts will be leftstanding in this vertical within two to three years, should conditions stay unrevised.

第五名：BWIN (1) Listed

Financials: Strong on NGR (£339m) and amounts wagered (£3bn) but faredbadly on operating profit (£21.9m) due to huge operating costs, in theopinion of our independent accountant. Stability below average due to poorefficiency ratio.

Strategy and deliverability: Acquired poker operator Gioco Digitale to gainItalian foothold and entered France on B2C and B2B basis. Unfortunatewith cash poker and casino delay in Italy.
Geographic reach: Footprint bolstered through launch of sports betting and poker inFrance.

Brand and influence: “Bwin has developed a seriously powerful brand in Europethanks to high-profile football sponsorships and a desire to be the voice of theindustry on legal issues.”

Diversity of product: Strength in sports, casino, poker and games. No bingo productdue to consumer tastes in core main European markets.

Total score: 77/100

Last year’s table topper has found the going far more challenging this time around.The delay of poker cash games and casino in Italy continued to negatively affectits bottom line. And while it doubled gross gaming revenues from the World Cupcompared to the 2006 tournament, this was offset by a 30% rise in marketing coststhat, in combination with costs from its launch in France, saw it post a 27% drop inquarterly operating profit in Q2 2010. But with Italian cash poker and casino comingonline and the PartyGaming merger projected to shave an estimated E55m in annualcosts and make it the market leader in sports betting, casino, games and bingo,expect it to rebound this year.


第六名：PADDY POWER (8) Listed

Financials: Acquisition of a 51% sharein Sportsbet in Australia helped boostoperating profit to more than £63m andamounts wagered to £2bn. The acquisitionwhich drove most value in the sector thisyear, in our independent accountant’sopinion.

Strategy and deliverability: Stayed trueto established and regulated markets wherebrand is strongest, making ground in everyterritory. Also entered France by signing afive-year deal with French duopoly operatorPari Mutuel Urbain (PMU) to provide it withfixed odds risk management and pricingtools.

Geographic reach: Only focused on a few regulated markets but strong in each.43% of group operating profit from UKcustomers, 39% from Ireland and 16% fromAustralia.

Brand and influence: “It's not the luck ofthe Irish that makes this brand a standout.Legendary specials markets, tongue-incheek creative and PR as well as top-levelplanning and delivery make this one of themost recognisable brands in egaming.”

Diversity of product: Heavily gearedtowards sports but highly creative anddynamic suite of betting products andgames.

Total score: 76/100

The biggest bookmaker in Irelandalways likes to do things differently(it even drag-raced its own brandedPopemobile, calling it the ‘Hot Rod fromGod’ to coincide with the Pontif’s visitto the UK in September), and 2010 hasbeen no exception, particularly when itcomes to original marketing. It has alsohad a highly successful financial year,predicting full-year earnings to rise byup to 30% after an “exceptional” WorldCup helped boost its half-year profits.Online betting now accounts for 73% ofthe group’s operating profit.


第七名：BETFAIR (3) Listed

Financials: Strong on top-line NGR (£285m), fared less well onmost weighted measure of operating profit (£27.2m) due to highcosts and weak efficiency ratio.

Strategy and deliverability: Confirmed IPO. Often described as atechnology company that offers a betting exchange, the past yearsaw the operator continue to invest heavily in R&D and technology,as well as in attracting the best people.

Geographic reach: Betting exchange model currently has limitedglobal penetration, but Betfair’s product rapidly dominates themarkets it enters. Owns TVG racing TV network and wageringbusiness in the US. New Jersey assembly recently approved bettingexchanges.

Brand and influence: “A marketing Midas touch has led them tobe market leaders by a country mile, the Google of exchange bettingwho redefined horse racing betting.”

Diversity of product: USP lies with its betting exchange, butgrowing arcade offering. Poker less of a focus after move toOngame Network. No bingo due to core demographic.

Total score: 76/100

While Betfair’s float valuing the business at around £1.4bnhogged the headlines, performance-wise, it was a case of moreof the same for the betting exchange. Mobile was an increasedfocus, while its usual branding dominance of Cheltenham andthe UK’s leading race meetings was supported by its biggestever marketing campaign, Cut Out The Middleman. It alsomanaged to trump the undisputed kings of the headlinegrabbing PR stunt, Paddy Power, with its guerrilla marketingcampaign for this year’s Ryder Cup, featuring a five-strongflock of hawks and eagles towing banners of support for theEuropean team.


第八名：SPORTINGBET (10) Listed

Financials: Very strong on top line NGR (£208m) and amounts wagered(£1,971m), scored less well on operating profit (35.4m) due to highoperating costs.

Strategy and deliverability: Industry-leading in-running marginfor World Cup. Settled with DoJ for US$33m, paving the way for it toparticipate in meaningful consolidation this year.Geographic reach: Large global footprint. 2009-10 saw it withdrawfrom France and launch in Chile under its Miapuesta brand. StrongAustralian business..

Brand influence: “Invading more countries than the US, Sportingbet should behighly commended for their aggressive expansion into new territories over manyyears. They understand how to deliver good product and understand betting.”

Diversity of product: The gaming division is still the poor relation, hence strengthin this area being seen as a crucial attribute of potential consolidation partners.

Total score: 75/100

Achieving its long-awaited settlement with the US DoJ over its US activitiesprior to the passage of UIGEA marked the culmination of nearly three yearsof protracted negotiations between Sportingbet and US authorities, andcapped off another solid year for the operator. As well as opening the wayfor the operator to participate in meaningful industry consolidation, theUS$33m non-prosecution agreement represented strong shareholder value.The Australian business also continued to perform well, while the operator’sin-play betting margin of 11.7% during the football World Cup was a furtherhighlight.


第九名：WILLIAM HILLONLINE (5) Listed

Financials: Strong scores across the boardfor Hill’s online division, separated from thedebt position of its majority owner. Industry-leadingefficiency ratio of 60.1%.

Strategy and deliverability: Move offshore of onlinesportsbook shaved £10m in annual costs. Affiliatemarketing machine delivering solid casino growth.Improved bingo product.

Geographic reach: UK focused with strength in isolatedmarkets such as Greece.

Brand influence: “Credible through history, not onlineinnovation but still a high street name with huge brandperception. Will struggle to develop share of voice in newmarkets.

Diversity of product: Sports betting strength supportedby solid casino and bingo, poker continues to decline, incommon with other non US-facing operators.

Total score: 73/100

Hill’s lower ranking this year is a result of the newcriteria being used rather than any drop-off inperformance. Affected at the start of the assessmentperiod by a freak run of results in the English PremierLeague, the online JV between software giantPlaytech and UK high street behemoth William Hillcame back strongly. While the fillip provided tosportsbooks across the sector by the World Cupwas the main driver behind a 24% year-on-yearincrease in net revenue in H1 2010, casino and bingoalso turned in sustained growth off the back of theintegration onto Playtech platforms, “outstripping”all competitors, according to WHO chief executiveHenry Birch.


第十名：UNIBET (9) Listed

Financials: Solid performance across all variables, with an operatingprofit of £39m reflecting tight cost control.

Strategy and deliverability: Paid off Euro65.8m bond it used to buyMaria Bingo, protecting bottom line. Launched B2B arm. Strong mobilegrowth, but delay in licence for its key market of France.

Geographic reach: 27 operational territories. Nordics still mainmarket, but continued to diversify business into Western Europe andCentral/Eastern/Southern Europe.Brand influence: “Like Betsson, long established and a strategy ofdeveloping in all territories. Playing the long game will pay dividends.”

Diversity of product: Strong European sports betting brand, MariaBingo dominant in Nordics, solid casino offering.

Total score: 72/100

While the assessment period ended with the departure of CEO offive years Petter Nylander and new incumbent Henrik Tjarnstromdefending Unibet drawing no revenues from its key market ofFrance in Q3 2010 after a delay in its licence, the Swedish operatorhad turned in a steady performance. It achieved impressivemobile growth, credited by Nylander to the growing penetrationof smartphones, with active users more than doubling in the lastquarter of 2009. The operator also launched its B2B sportsbookdivision, with Finland-facing operator Paf as its first client, due togo live early next year.


第十一名：LADBROKESE GAMING (6) Listed

Financials: Operating profit of £57.1m to 30June 2010. Solid scores for NGR and stabilityaccording to our independent accountant butwell behind Bet365 and big European sportsbooks onamounts wagered (£1,132m).

Strategy and deliverability: Offshoring of sportsbookand World Cup boosted operating profit 40% to £29.1m inH1 2010 but this concealed underlying weakness of onlinedivision. Hence Ladbrokes opting for a CEO from anegaming background and online head John O’Reilly beingthe first boardroom casualty of Richard Glynn’s OperationGalvanise aimed at revitalising the entire business.Geographic reach: UK and Nordics-focused. Launchedpoker in Italy, but sportsbook there went as part of sale ofland-based assets to Cogetech. Acquired South Africanlicence with casino group KaiRo but pulled out of Francewith Canal+ in October.Brand and influence: “More imaginative than other bigUK operators but still suffers from the lack of requirementto innovate that defines brand in new online markets.”

Diversity of product: Full portfolio of products fromsportsbook to financials. Poker budget earmarked to beslashed by 10%, according to insiders.

Total score: 70/100


第十二名：BETSSON (11) Listed

Financials: Strong on stability, solidoperating profit (£30m) and NGR (£101m),but behind peers on amounts wagered, dueto less emphasis on sportsbook comparedto casino.

Strategy and deliverability: Launched new B2B arm,Betsson Business Solutions. Relaunched flagship CherryCasino product. Excercising a vice-like control on costsand the bottom line, Betsson continued its impressivegrowth in its core markets this past year. Its live bettingpush during the World Cup boosted turnover from thischannel by more than 200% year-on-year during the firstsix months of 2010, as sportsbook turnover grew by morethan 91%.

Geographic reach: Nordics accounted for more than50% of revenue in 2009, 37% from the rest of the EU,13% from elsewhere.

Brand influence: “Scandinavian heavyweights with abrand like Volvo for security, safety and reliability, trulyglobal operators who will be in all markets and theirunderstanding of niche is obvious with Cherry Casino.”

Diversity of product: Casino strength, solid sportsbook,scratchcards, took steps to redress weakness in poker withBetfriends buy, but still challenging.

Total score: 66/100   


第十三名：PARI-MUTUELURBAIN (14) Private

Financials: Saw a 22% year-on-year increasein online bets to Euro661m in 2009 with overallturnover inching up 0.4% to Euro9.3bn. Horseracingbet volumes in the first four months of the new Frenchmarket performed in line with forecasts and reached Euro215m,according to regulator ARJEL, with PMU capturing the bulkof this.

Strategy and deliverability: Its monopolistic legacy inhorseracing has made for a successful transition online.Has also diversified into sports betting and signed a dealfor PartyGaming to provide it with a PMU-branded pokerproduct.

Geographic reach: Currently limited to France but PMUchairman and managing director Philippe Germond hasdeclared ambitions to become a leading global operator.

Brand and influence: The dominant brand in horseracingin France, its ad campaigns for its sportsbook featuringa cartoon horse kicking a football suggest arguably lessunderstanding of the sports betting sector. Poker is also likelyto struggle for share against specialist brands.

Diversity of product: Horseracing focus but has diversified.

Total score: 64/100


第十四名：888 (12) Listed

Financials: Operating profit of £17.4m for yearto June 30 2010, putting 888 well behind rivals.NGR of £163.8m.

Strategy and deliverability: Lost control ofthe bottomline on a consistent basis. Introduced cost-cuttingmeasures following less than impressive financials. Failed topay interim dividend payment. Acquisition of Wink Bingo for£60m.Geographic reach: Huge. Despite not settling with theUS government following UIGEA a poker deal between itsDragonfish B2B arm and Harrah’s Interactive Entertainmentcould prove revenue-enhancing in an regulated US market ifNevada regulators approve the tie.

Brand and influence: “Its brand presence is undeniable,and is everywhere it has been possible to go. The growth ofDragonfish and corporate strategy to become a softwareprovider to existing brands suggests 888 will tick over as abrand and focus on response-driven ROI.”

Diversity of product: Casino products continue to do well,and are well respected by players. Poker liquidity is poor, buthas taken steps to enhance its product.

Total score: 63/100


第十五名：FULL TILT POKER (-)Private

Financials: Given average scores acrossthe board, in absence of Publicly available figures, butcash games specialist has huge scale.

Strategy and deliverability: Innovation of the yearwith Rush Poker. Lessened dependence on affiliatesby capping rakeback commissions at 3%. AcquiredFrench licence. But no Italian licence as yet, and reliesmore heavily on US liquidity and revenues (around 40%)than Stars (30%), which loses points for reach. Suchpresences introduces additional elements of instabilityto a company’s balance sheet, by exposing them tofactors such as US authorities’ clampdowns on paymentchannels. The Financial Times also revealed in May thata federal grand jury in Manhattan was investigating FTPand Team Full Tilt members including Chris Ferguson andHoward Lederer in connection with allegedmoney-laundering violations.Geographic reach: Comparable with any globalsportsbook.

Brand influence: “As with Stars they own the planetfor poker. Amazing player roster and most innovative useof player related content, in particular video, of any pokerprovider. This has developed a self-fulfilling prophecy ofmore liquidity, higher player satisfaction and lifetime valuethat will make them hard to catch.”

Diversity of product: Poker only but gains points forintroducing Rush Poker.

Total score: 62/10048


第十六名：LOTTOMATICA (15) Listed
Lottery operator and systems provider and also ownerof egaming supplier GTech G2. Strongly positionedin the lucrative Italian egaming market, holding 21%market share in sports betting, 11.2% in poker and39% in skill games in Q1 of this year, accordingto Trust Partners. Has designs on the US egamingmarket via US subsidiary GTech’s lottery contracts.

第十七名：SNAI (16) Listed

Market leader in Italian online sportsbetting,with 34% market share of Europe’s largestonline gaming market in the first quarter of 2010,according to Trust Partners, but struggling withEuro250m of net debt is now is the subject of a takeovertussle between rival Sisal and Private equity housesClessidra and Investindustriel.

第十八名：FRANÇAISE DES JEUX(13) Private

Former French lottery monopoly which movedinto B2B by acquiring its betting platformprovider LVS in March. But with sports bettingvolumes in the newly regulated French market belowforecasts and its decision to jettison poker partnerCyberArts in favour of inexperienced provider Barrierenow looking ill advised, FDJ falls to 18 in thisyear’s P50.

第十九名：PKR (18) Private

Topped this year’s Sunday Times Tech Track100 ranking Britain’s fastest-growing Privatetech companies. The 3D poker specialist postedrevenues of £33m in 2009/10 with an operating profitof £3.5m. Also added casino and a GBE-poweredsportsbook, launched in France. “One of the mostexciting brands in poker”, according to Gav Grimes ofMcBoom.

第二十名：SISAL (22) Private
Italian operator with market share ofaround 10% of the lucrative Italian market,amounting to Euro131.5m in turnover in the first quarterof 2001.  Growth in 2010 was expectedly slower than2009, as the boost from new games such as onlinepoker faded. Owned by Private equity houses Permiraand Clessidra. Linked with a takeover of indebted rival Snai.

第二十一名：GVC HOLDINGS (17)Listed
The owner of German-facing Casino Club and Italiansportsbook Betaland achieved an operating profitof £13.4m for the year to 30 June 2010. Septembersaw Latin American business Betboo, acquired in July2009, generate record revenues of Euro2.2m.

第二十二名：SKYBET (20) Listed
In the company’s latest half-year figures,profits were up 50% compared to the sameperiod last year. Interactive TV is the perhaps the oneto watch for Sky Bet, as its parent group BSkyB hasbegun to roll out broadband-enabled set-top boxesacross the UK.

第二十三名：SBOBET (26) Private
Huge Asian operator which entered thePower 50 for the first time last year due toits entrance into the European market. SBO is thesponsor of English Premier League team West Ham(pictured below) leveraging its TV appearances togreat effect in its core Asian markets.

第二十四名：188 BET (25) Private
Asian bookmaker leveraging English footballsponsorships in its home markets, 188Betsponsors English Premier League teams BoltonWanderers and Wigan Athletic and has partnershipswith Aston Villa, Chelsea, Liverpool and Everton.

第二十五名：INTRALOTINTERACTIVE (-) Listed
With 6% market share of online sports bettingin Italy, the interactive arm of the Greek lotterysupplier acquired US egaming provider CyberArtslast December to position itself for a regulated USegaming market. Received French sports bettinglicence last month.

第二十六名：WINAMAX (28) Private

Winamax received a Euro12m injection in May of thisyear from Private equity house AGF. Winamax headMarc Simoncini said the company would be investingheavily in marketing to make it one of the top twopoker sites in France.

第二十七名：VICTOR CHANDLER(29) Private
Gibraltar-based company with an approximate 5%share of the UK sports betting market. Launcheda Spanish brand in April called Mister Apuestas.Eponymous chairman Victor has also been bullish onSouth Africa, declaring VC will get an egaming licencethere next year.

第二十八名：STAN JAMES (30) Private
Secured a deal with Perform for the ‘Watch&Bet’portfolio of live streamed events. Has partneredwith Zukido to relaunch its sports betting platformat the start of 2011, with a “significant, seven-figureinvestment”.

第二十九名：GALA CORAL (36) Private
The owner of the Coral, Eurobet, Gala Bingo and GalaCasino brands finally stabilised the business in Junecompleting a complex restructuring aimed at loweringits restrictively high debt. Undertook a rebuild of itssportsbook platform with software provider Geneity.

第三十名：GAMESYS (32) Private
The Jackpotjoy owner and Sun Bingo operatorcontinues to go from strength-to-strength. Groupwagering exceeded £1.4bn in 2009, with revenue up25% to £73m. Now powering Harrah’s InteractiveEntertainment’s Caesars-branded casino and bingoin the UK.

第三十一名：TABCORP (21) Public
Australia’s largest wagering and gamingoperator recently launched its own NorthernTerritory-licensed bookmaker, Luxbet, but has hadmixed results. The holder of the exclusive licence fortotaliser betting in the main Oz racing states of NSWand Victoria.

第三十二名：CENTREBET (31) Listed
The Australian operator posted a 19% rise in profitto AU$6.3m (£3.6m) for H2 of 2009 thanks toan aggressive marketing campaign in Australia.Launched fixed odds management service for theACT TAB, Racing & Wagering Australia and ToteTasmania.

第三十三名：TOMBOLA (38) Private
Tombola is now firmly established as one of the topthree UK bingo sites. Signed sponsorship deals withBritish soap opera Emmerdale at the end of lastyear and with English Premier League football teamSunderland in April.

第三十四名：RANK INTERACTIVE(40) Private
After a difficult period culminating with operatingprofit falling by 23% year-on-year to £2.3m for thesix-months to 30 June 2010, its Mecca Bingo andG Casino brands now appear to be spearheading arecovery in the fortunes of Rank’s egaming arm.

第三十五名：CAMELOT (24) Private
A mixed year for the UK lottery operator, whichrecently topped Nielsen’s chart of the fastest-growingcompanies online, increasing unique visitors by 4.4mto 9.4m between July 2009 and July 2010. Does notappear higher due to its single product offering.

第三十六名：32RED (33) Listed
The UK-focused casino specialist posted anoperating profit of £0.9m for the year to 30June 2010, with a significant increase in revenuesfrom its flagship product 32Red Casino. Added a GBEpowered sportsbook earlier this year.

第三十七名：HONG KONGJOCKEY CLUB (-)
One of the five largest betting organisations in theworld, based on turnover. The remote channel isgrowing as a proportion of the club’s vast annualturnover, which reached £5.3bn for horseracing and£3.2bn for football in the year to 30 June 2010.

第三十八名：SPS BETTING (34)Private
With major backing from French media conglomerateBouygues, SPS was among the first wave of licencesawarded by French regulator ARJEL earlier this year,launching Eurosportbet.

第三十九名：SVENSKA SPEL (38) Private
Swedish gaming monopoly which initially did well withits poker platform following its launch in 2006, but isincreasingly struggling under pressure from Privateoperators. NGR in poker last year for instance was22% lower than in 2008.

第四十名：NORDICBET (35) Private
Innovative Nordic-based sports, poker and casinooperator. Strong at localisation. Triobet, theEstonian-facing arm of Nordicbet owner NordicGaming Group, also acquired a gaming license for thenewly re-regulated Estonian market earlier this year.

第四十一名：CHILIGAMING (47) Private
Chiligaming now offers sports betting alongside itsPlaytech-powered poker product in France. Has a dealwith French telecoms group Iliad to promote onlinegambling on its Free ISP. Chilibingo is also in thepipeline. Also runs the 10-day Chilipoker Marrakechfestival.

第四十二名：SPORTING INDEX(42) Private
Leading sports spread betting operator looking toexpand its business-to-business client base. Was inthe press this year when chairman Richard Glynnmoved to Ladbrokes as CEO. Also provides B2Bin-play price provision for six operators via SportingSolutions subsidiary.

第四十三名：GAMING MEDIAGROUP (46)
The owner of the Poker Channel and Poker Heavenand last year’s Rising Star winner in the eGR Awardshas continued to expand the Poker Channel into newterritories, including Bulgaria, France, Argentina andSouth America. A sale is expected to be confirmedshortly.

第四十四名：KING.COM (48) Private
Privately run skill gaming operator with estimatedrevenues last year of around US$50m and profits ofUS$4.6m. Has partnership deals in the US and Europewith MSN, Yahoo!, NBC and CBS. Investors includePrivate equity companies Apax Partners and IndexVentures.

第四十五名：BOYLESPORTS (-)Private
Ireland’s largest independent bookmaker signed anumber of deals this year signalling intent with regardto the online space, such as joining Playtech’s VirtueFusion bingo network. CEO Lee Richardson howeverleft the company at the end of August after only fivemonths.

第四十六名：WEBIS HOLDINGS(45) Public
The pari-mutuel and football operator enjoyed a 35%rise in turnover in 2009 but in H1 2010 experiencedsignificant losses due to sportsbook betinternet’sunderperformance. Acquired US pari-mutuel businessWatchandWager to enhance EWS’ presence there.

第四十七名：12BET (-) Private
Asian sportsbook granted a licence by the Isleof Man Gambling Supervision Commissionin September, extending the operator’s reach intoEurope, which could see this little-known operator(outside of Asia) move up the P50 in 2011. Sponsor ofsnooker’s World Open.

第四十八名：HARRAH’S INTERACTIVE ENTERTAINMENT (18) Private
Included high on last year's list due to its huge potential,but the interactive arm of the US casino giant has lainlow since. A WSOP-branded poker offering went live onDragonfish, followed by Caesars-branded casino andbingo on Gamesys, but its focus is clearly the US.

第四十九名：PAF (-) Private
The gambling company of Finland’s semiautonomous Åland islands, aimed at generatingfunds for humanitarian and social causes. Operatingprofit of £3m and £85m wagered for year to 30 June2010. Has signed B2B deals with Parlay for bingo andUnibet for sportbook.

第五十名：SPORTECH (-) Listed
Sportech’s new board, appointed in 2005,including current CEO Ian Penrose, have led asignificant turnaround seeing the business announcea first-half 2010 pre-tax profit of £5.8m, acquiring USpari-mutuel horse betting giant Scientific Games Racing(SGR) for £83m in early October.