(1.3MB)14. Investments
|
|
Investment in joint ventures |
|---|---|
|
Group |
|
|
Cost |
|
|
As at 1 August 2005 |
8.7 |
|
Exchange adjustments |
(0.5) |
|
As at 31 July 2006 |
8.2 |
|
Share of retained profits |
|
|
As at 1 August 2005 |
0.9 |
|
As at 31 July 2006 |
0.9 |
|
Amortisation of goodwill |
|
|
As at 1 August 2005 |
0.6 |
|
Charge for year |
0.5 |
|
As at 31 July 2006 |
1.1 |
|
Net book value |
|
|
As at 31 July 2006 |
8.0 |
|
As at 31 July 2005 |
9.0 |
The investment in joint ventures represents the Group’s interest in a joint venture with World Gaming Plc, which owns the software platform for the US facing business, previously owned by the Group, which is held as goodwill. The net book value comprises goodwill as the joint venture has no other assets or liabilities as at 31 July 2006.
|
|
Shares in subsidiary undertakings |
|---|---|
|
Company |
|
|
Investment in subsidiary undertakings |
|
|
As at 1 August 2005 |
145.1 |
|
Acquisitions |
5.6 |
|
Options issued to employees of subsidiary undertakings |
4.0 |
|
Other movements |
(1.1) |
|
As at 31 July 2006 |
153.6 |
Acquisitions of subsidiaries are stated net of adjustments arising for discounting of contingent consideration.
Other movements relate to the settlement of Australian litigation.
The following principal trading subsidiaries were wholly owned at 31 July 2006:
|
Directly owned |
Activity |
Country of incorporation or registration |
|---|---|---|
|
Eurosportwetten Limited |
Online betting |
England |
|
Interactive Sports Limited |
Online betting |
England |
|
Outsourcing Administrativo S.A. (previously Fincorp Propiedades F.P. S.A.) |
Administrative services |
Costa Rica |
|
Sportingbet Australia Pty Limited |
Online and telephone betting |
Australia |
|
Internet Opportunity Entertainment Limited |
Online betting |
Antigua & Barbuda |
|
Alea Software Limited |
Administrative services |
Canada |
|
Platinum Management Advisors S.A. |
Administrative services |
Costa Rica |
|
Sporting Odds Limited |
Online betting |
England |
|
MLB Limited Contract |
Call Centre |
Ireland |
|
Sportingbet (Management Services) Limited |
Administrative services |
England |
For all undertakings listed above, the country of incorporation is the same as the country of operation, except Eurosportwetten Limited which operates in Austria.
The Company acquired a 50% shareholding in Sportingbet Italia S.R.L. (‘Sportingbet Italia’) during the year. Sportingbet Italia is incorporated in Italy and its principal activity is online and telephone betting. The company is treated as a subsidiary undertaking with a 50% minority interest on the basis that the Group exercises control over it.