Citing current ongoing equine influenza outbreak related issues, Centrebet International Limited stocks fell nearly 5% as the company attempts to asses how current horse racing restrictions will affect their bottom line. With restrictions on horse travel being implemented across several states, races have been postponed and others will perhaps have to be cancelled. Assuming no races are to take place in the next month Centrebet’s profits would dip by nearly $400,000, however improbable that would be acknowledged a company official.
Centrebet anticipates additional greyhound races to pick up much of the slack, as well as a shift to traditional sports betting to make up for the absence of the ponies. The company’s international horse racing promotions, primarily in New Zealand, is also expected to contribute.
While this setback is a cause for some concern, Centrebet recently announced an adjusted net profit of $11.8 million for the last fiscal year, nearly $200,000 ahead of its forecast. The company credits strong wagering and gambling growth as well as recent company expansions.
“We are pressing our advantage on a number of fronts, including mobile phone betting, the Centrebet Poker and Casino games and our Affiliate Programme” according to Managing director Con Kafataris.
