First Quarter Was Biggest on Record, Consultancy Says
Global Betting and Gaming Consultants has said the first quarter of the 2008 calendar year was the largest on record for the Internet gambling industry.
GBGC, a financial consultancy covering the land-based and Internet gambling industries, revealed industry-wide first-quarter gross revenue of $3.8 billion, up 25 percent against the year-ago period.
The figure represents gross revenue generated by commercial betting, gaming and lottery operators, but excludes revenue generated by government-run lotteries. Including government-run lottery revenue, however, $3.8 billion rises significantly -- 18 percent to $4.5 billion.
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NetPlay Full-Yearly Revenue Offset by £4 Million Pre-Tax Loss
NetPlay TV, the interactive television gambling specialist, has revealed full-yearly revenue of £9.41 million, or $18.32 million, on losses before taxes of £4 million.
However, £2.5 million of the loss derived from a single "goodwill impairment," the company said.
The company's Live Roulette business experienced "exceptional growth," it said, with gross bets in December totaling £17.3 million against £3.4 million in December 2006.
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Weekly Statistics
Listing: Alternative Investment Market, London Stock Exchange
Low Close: 27 pence (53 cents)
High Close: 28 pence
Weekly Change: - 3.5 percent
Market Capitalization: £33.8 million ($66.4 million)
888 Chairman Says First-Quarter Momentum Continues
Richard Kilsby, the chairman of 888 Holdings, said the company has taken momentum generated by first-quarter growth in net gaming revenue into the second quarter.
In a prepared statement released ahead of the May 21 annual shareholders' meeting, Mr. Kilsby said second-quarter growth is being driven by casino and bingo performance, as well as innovation in game development, integration and partnership deals.
Mr. Kilsby said the company remains confident of "delivering further growth in 2008."
Weekly Statistics
Listing: Main Market, London Stock Exchange
Low Close: 142 pence ($2.79)
High Close: 147 pence
Weekly Change: + 0.03 percent
Market Capitalization: £495 million ($973 million)
Parlay Sells Undisclosed Number of 'Non-Core Assets'
In shifting its business toward serving regulated markets exclusively, Parlay Entertainment Inc. has sold an undisclosed number of "non-core assets" for $2.81 million.
Non-core assets, the Toronto-based company said, include licensees that operated in non-regulated jurisdictions. It said it stopped generating loyalty revenue from these assets from May 1, 2008.
In a prepared statement May 22, Parlay said it would no longer license its software to gaming operators operating within non-regulated jurisdictions.
Weekly Statistics
Listing: Venture Exchange, Toronto Stock Exchange
Low Close: 68 Canadian cents (67 cents)
High Close: 70 Canadian cents
Weekly Change: - 1.4 percent
Market Capitalization: 9.1 million Canadian dollars ($9.08 million)
London Capital Group Acquires FuturesBetting.com
London Capital Group Holdings, the London-based financial spread betting firm, on May 27 its acquisition of FuturesBetting.com, a Gibraltar-based financial spread betting business, for an initial £200,000, or $395,000.
A further £200,000 will be paid dependant upon the site's performance over a three year period.
Weekly Statistics
Listing: Alternative Investment Market, London Stock Exchange
Low Close: 380 pence ($7.46)
High Close: 385 pence
Weekly Change: + 1.6 percent
Market Capitalization: £145.5 million ($286 million)
Neteller Shares Rise on Takeover Talk
Shares in Neteller, the London-based online payment processor, rose sharply on renewed speculation of a takeover bid of around 95 pence per share, two traders told Reuters on May 29.
"It's a strong rumor I've heard from a lot of people," said one of the traders, who wished to remain anonymous.
Neteller shares rose 13 percent to 70 pence, or $1.38, by 9:25 a.m., G.M.T., but closed the day down 5.25 pence to 64.75 pence.
Weekly Statistics
Listing: Alternative Investment Market, London Stock Exchange
Low Close: 59.25 pence ($1.18)
High Close: 64.75 pence
Weekly Change: + 7.5 percent
Market Capitalization: £74.9 million ($147.2 million)