Coral Group announces first quarter results

Coral Group, this past week, released its latest quarter results. The report showed satisfactory results based on revenue generated during the first quarter. Gala Group is one of the world’s largest internet betting groups and employs over 18,000 people across the world. They operate bingo, casino and a retail chain of betting shops in Italy.

Some of the highlights to the report show that overall revenue was up by 9% at £311.3 million. This resulted in a gross profit of £234 million, which is a 6% gain over the same time period last year. The report also showed that the overall traffic and player acquisition had grown by 3%

 The CEO of Coral, Carl Leaver stated “Our interactive business saw strong growth this quarter. Also Eurobet continues to grow within the Italian market both with the betting shops and online. The acquisitions of five hundred new betting shop licenses will us to further grow our operation within Italy”

The new licenses are expected to increase overall profits in 2014. 2013 may not see added profit due to expenditures to establish the new betting shops. Overall the first quester shows excellent results with expectations for the second quarter to be high.