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Half year results 6 months ended 31 January 2012. Analyst presentation 29 February 2012. Highlights Financial review Operational review Regulatory update Summary and outlook. Highlights. 3. Australian Centrebet acquisition completed August 2011. Integration progressing well

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half year results 6 months ended 31 january 2012

Half year results 6 months ended 31 January 2012

Analyst presentation

29 February 2012

slide2
Highlights
  • Financial review
  • Operational review
  • Regulatory update
  • Summary and outlook
highlights
Highlights

3

Australian Centrebet acquisition completed August 2011. Integration progressing well

Acquisition of Danish online betting operators January 2012

Disposal of Turkish business November 2011

In the first half amounts wagered up 18.4%

Strong growth in Australia

EBITDA down from £25.8m to £25.2m impacted by £7.9m of new tax and disposal of Turkey

In:play at an industry leading margin of 10.1%

Cost reductions in response to European tax and economic conditions

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

financial review
Financial review

Income Statement

4

* Before share option charge, exceptional items and amortisation of other intangible assets

4

Sportingbet Plc – Half year results for the period ended 31 January 2012

financial review1
Financial review

Operating profit reconciliation

5

5

Sportingbet Plc – Half year results for the period ended 31 January 2012

financial review2
Financial review

Balance sheet

* Includes client liabilities of £30.2m (2010/11 : £21.1m)

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Sportingbet Plc – Half year results for the period ended 31 January 2012

financial review3
Financial review

H1 cash flow

7

7

Sportingbet Plc – Half year results for the period ended 31 January 2012

.

operational review
Operational review

8

8

Underlying strategy remains unchanged

  • Focus on sport
      • Industry leading breadth of product offering
      • Something to bet on every minute of every hour of

every day

      • Achieve consistently above average margin whilst

maintaining price competitiveness

  • Supported by
      • Comprehensive supplemental revenue streams of poker, casino and games
      • Tailored offer branded for local markets
  • Goal of moving to a fully regulated offer

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

operational review1
Operational review

Group geographical breakdown (post-tax gaming revenue)

Geographical diversification spreads regulatory and economic risk

Australia NGR up 127% due to strong growth in online / acquisition of Centrebet

Greece amounts wagered down

  • 22% due to economic issues
  • NGR down 41% with poker and
  • casino particularly hard hit

Spain amounts wagered down 11% and NGR down 28%

Emerging markets NGR up 23%

Turkey

12.1% (23.6%)

Aus

39.9 (17.19%)

Poland

3.2% (3.4%)

Emerging Markets

4.8% (3.9%)

UK

3.4% (4.5%)

Greece

8.7% (15%)

Spain

9.4% (13.4)

Germany

4.4% (4.5%)

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Sportingbet Plc – Half year results for the period ended 31 January 2012

highlights1
Highlights

Group product breakdown

Sports betting continues to

drive the business with sports

NGR up 9%

Casino/games NGR down 8% as affected by economic conditions in key markets

Poker NGR down 34%

Sports

75%

(2010: 71%)

Soccer

37%

Casino & games

19%

(2010: 21%)

Aus horse

racing

40%

Poker

5.9%

(2010: 7.6%)

Other

14%

Mixed sport

multiples

2.7%

Tennis

2.9%

Horse racing

0.6%

Basketball

2.7%

10

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

operational review2
Operational review

Europe - sports

(GGR before betting taxes)

Q2 impacted by disposal of Turkey, recession and lower margin than last year

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11

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

operational review3
Operational review

Number of In:play Events vs. Avg. Markets Per Event

Sportingbet provides customers with a strong balance between the breadth of event coverage and a variety of markets to bet on in an individual event

William Hill

Avg. Markets per Event

Ladbrokes

Sportingbet

Bwin

Paddy Power

Unibet

Number of Events

Source: Gambling Data In-Play Tracker Winter 2012; Sample data captured snapshots between Sat 26th – Fri 9th Dec 2011

Sportingbet Plc – Half year results for the period ended 31 January 2012

new in play
New in:play

First phase now live in the UK

Other major domains live in March

Better showcases huge variety of betting opportunities

Greater customer personalisation improves engagement

Not built in Flash technology, allowing enhancements to be viewed on tablets and desktop devices

In-house development rather than third-party buy

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

new in play1
New in:play

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

operational review4
Operational review

Australia (Sportingbet) (pre-tax gaming revenues)

Amounts wagered on the internet up

  • 33% at constant currency

Amounts wagered on the telephone

  • down 10% at constant currency

Significant brand exposure in Australian market through offline marketing

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29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

operational review5
Operational review

Australia (Total) (pre-tax gaming revenues)

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29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

australia
Australia

18

18

Acquisition of Centrebet completed 31 August 2011

Senior management team appointed and operational (Sept ‘11)

IT Platform decided upon (Sept ‘11)

All operations (except IT platform) fully integrated (Jan ‘12)

Combined business in new single Sydney office (May ‘12)

Single IT platform (May/June ‘12)

Integration complete (July ‘12)

Integration ahead of plan at this stage

No material issues

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

mobile of turnover
Mobile: % of turnover

19

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Sportingbet Plc – Half year results for the period ended 31 January 2012

regulatory update
Regulatory update

20

  • We welcome regulated markets
      • Continuity of future revenue
      • Consumer protection
      • Growth in overall size of market
      • Stable payment processing
  • Group will apply for a licence where
      • Market is economically viable
      • Regulatory environment is stable
      • Equitable tax system
      • Severe penalties for non-compliance

29/02/2012

For Internal purposes only. This is confidential information and is property of Sportingbet Plc.

current regulation
Current regulation

21

21

  • Greece
      • Opted into tax regime
  • Spain
      • Applied for license
  • Denmark
      • Awarded license
  • Italy
      • Awarded license

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

summary and outlook
Summary and outlook

22

22

  • Long-term growth prospects of industry are good
      • Demographics
      • Broadband penetration
      • Confidence in transacting
      • Sport’s ever increasing global popularity
  • Geographic expansion continuing
  • Mobile route to market promising
  • Move to regulation promising and beneficial in the long term
  • Solid start to Q3

Sportingbet Plc – Half year results for the period ended 31 January 2012

slide23

Q&A

Analyst presentation

29 February 2012

slide24

Appendix

24

24

Sportingbet Plc – Half year results for the period ended 31 January 2012

net gaming revenue
Net gaming revenue

25

25

29/02/2012

.

Sportingbet Plc – Half year results for the period ended 31 January 2012

australia kpi s
Australia KPI’s

26

26

29/02/2012

.

Sportingbet Plc – Half year results for the period ended 31 January 2012

europe kpi s
Europe KPI’s

27

27

29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

financial review4
Financial review

Costs

* Before share option charge, exceptional items and amortisation of other intangible assets

28

28

Sportingbet Plc – Half year results for the period ended 31 January 2012

financial review5
Financial review

Operating profit reconciliation

* Before share option charge, exceptional items and amortisation of other intangible assets

29

29

Sportingbet Plc – Half year results for the period ended 31 January 2012

disclaimer
Disclaimer

These slides and this presentation are provided to you for information only. These slides and this presentation do not constitute, or form part of, any invitation or offer to any person to subscribe for, otherwise acquire, or dispose of any shares in Sportingbet Plc (the “Company”). These slides and this presentation do not constitute a recommendation regarding the shares of the Company. Recipients of these slides and this presentation should conduct their own investigation, evaluation and analysis of the business, data and property described therein.

Certain statements within this presentation constitute forward looking statements. Such forward looking statements are subject to risks and other factors, which may not be in the Company’s control, which may cause the actual events, results, achievements or performance expressed or implied by such forward looking statements to differ.

Such risks and other factors include, but are not limited to, general economic and business conditions, changes in governmental laws and regulations or practices, currency fluctuations, competition, changes in plans and other risks. There can be no assurance that the results and events contemplated by the forward looking statements contained in this presentation will, in fact, occur and no representation is made in this respect. These forward-looking statements represent honestly held views of the Company only as at the date of delivery of this presentation. The Company is not under any obligation to release publicly any revisions to these forward looking statements to reflect events, circumstances and unanticipated events occurring after the date of this presentation except as required by law or by regulatory authority (including pursuant to the UK Listing Rules and the Disclosure Rules and Transparency Rules of the Financial Services Authority).

No statement in this presentation in intended as a profit forecast or a profit estimate and no statement in this presentation should be interpreted to mean that earnings per share for the current or future financial years will match or exceed historical earnings per share.

The distribution of this presentation or any information contained in it may be restricted by the laws of certain jurisdictions. Persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. Failure to do so may constitute a violation of the laws of any such jurisdiction.

By accepting these slides and/or attending this presentation, you agree to be bound by the provisions and the limitations set out above.

All financial information and KPIs in this presentation are unaudited.

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29/02/2012

Sportingbet Plc – Half year results for the period ended 31 January 2012

the end
The End

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Sportingbet Plc – Half year results for the period ended 31 January 2012.