Online gambling play Sportingbet faced a challenging year to March, yet still chimed in with good sales growth and solid profits, has rescheduled its debts and has new bank facilities in place. Although profit before tax fell from £5m to £1.4m last year, after finance costs, goodwill and exceptionals, turnover was lifted from £991.5m to £1,150.3m and chief executive Nigel Payne said all parts of the business now trade profitably. The year's sales were split £950.3m on sports betting, £184.7m on casino betting and £15.3m from sports and casino white-label services. Sportingbet has also released some pretty solid numbers for the three months to June, showing pre-tax losses cut to £900,000 (£1.5m), though sales growth appeared muted at £256m (£248.1m) because last year's period included the World Cup. There are a myriad of regulatory developments emerging on which Sportingbet's future will hang: for example, the UK government is proposing licensed UK operators should be able to accept bets from non-UK locations, which will benefit the company. In the US, however, the regulatory debate regarding internet gambling rages on and the board believes the 'overall position remains one of uncertainty'. Sportingbet recently tumbled after announcing possible offer talks had ended. But as the leading worldwide provider, it could benefit from smaller players falling by the wayside, bids from other suitors and it trades on a budget forward rating. Hold.