Betclic Everest expected to record increased H1 losses
Part-owner Societé des Bains de Mer records 33.1m loss for six months ended 30 September.
Betclic Everest Group is expected to record losses of as much as 66.2m for the six months ended 30 September, due largely to adverse conditions in the French market
According to iGamingFrance La Societé des Bains de Mer, which owns 50% of the operator, has recorded losses of 33.1m for the first half of the 2011-12 financial year, after losing 25m in the previous financial year.
However new chief executive Ignacio Martos told eGaming Review yesterday that the 2010-11 figures from La Societé des Bains de Mer did not mean the group as a whole had lost 50m during the period.
In his first interview since replacing Nicolas Beraud in September, Martos said the losses last year stemmed from court cases and acquisitions rather than being solely based on Betclic Everest’s operations.
He was speaking after the departure of Betlic Expekt CEO Thomas Winter, revealed exclusively by eGaming Review yesterday.
This time last year Betclic chairman Stéphane Courbit was vocal in his criticism of French egaming legislation, describing taxation levels as “absurd”, and he has blamed this year’s losses on similar issues.
Last month Jean-François Vilotte, president of French regulator ARJEL, admitted that changes to the country’s regulation were required following a 23% year-on-year decline in amounts staked on sports.