Genting Deal Could Generate $5 Million for Playtech, Brokerage Says
Playtech Ltd., the London-listed software developer, has signed a licensing agreement with Genting Stanley Alderney Ltd., a deal one brokerage says could generate $2 million to $5 million in revenue for Playtech by the 2009 fiscal year.
Under the agreement, Playtech will provide Genting Stanley, a subsidiary of Genting International, with its software platform.
On Friday, Genting Stanley confirmed it would launch its Circus Casino brand online, a real-money poker and casino offering targeting residents of the United Kingdom. The company also intends to offer a suite of play-for-fun games to customers worldwide.
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Weekly Statistics from Bloomberg.com
Listing: Alternative Investment Market, London Stock Exchange
Low Close: 531.5 pence ($10.52)
High Close: 547.5 pence
Weekly Change: - 2.9 percent
Market Capitalization: £1.26 billion ($2.49 billion)
City Index Deal Not a Difference Maker for Party, Analyst Says
With its City Index deal, PartyGaming is trying new markets and looking to partners outside the world of online gambling for growth, but one analyst says a financial spread betting offering may not be a difference maker for the Gibraltar-based operator.
In an alliance with City Index, a spread betting company based in London, PartyGaming on Tuesday launched PartyMarkets, a Web site offering financial spread betting and contracts-for-difference trading.
John Shepherd, director of corporate communications for PartyGaming, told Interactive Gaming News the alliance with City Index was a logical extension of Party's existing online gaming franchise.
"Customers who engage in spread betting or trading really are quite sophisticated," Mr. Shepherd said. "And they are also well informed because what they are doing is betting on events in real time, often very quickly."
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Weekly Statistics from Bloomberg.com
Listing: Main Market, London Stock Exchange
Low Close: 227.5 pence ($4.51)
High Close: 262.5 pence
Weekly Change: - 13.3 percent
Market Capitalization: £1.002 billion ($1.98 billion)
Hills' Italian J.V. Sold, 'Bigger Priorities for Capital,' F.D. Says
Upon weighing the risks against the rewards, William Hill and its joint venture partner, Grupo Codere S.A., have sold their entire company, William Hill Codere Italia Srl, to Intralot Italia spa for 5.5 million euros.
Simon Lane, group finance director for William Hill, told Interactive Gaming News that the decision to sell the business was more a matter of circumstance than a fundamental dislike of the market.
"We like the Italian market, per se," Mr. Lane said in a telephone interview. "There is a history of sports betting in Italy. The existing licenses that have existed for a number of years there -- before this latest round of licensing -- these shops are trading extremely well. The market is fine."
However, the uncertain regulatory framework and the low number of licenses the company had been granted forced the company to reconsider its investments in the country and refocus its energy and money.
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Weekly Statistics from Bloomberg.com
Listing: Main Market, London Stock Exchange
Low Close: £2.73 ($5.40)
High Close: £3.23
Weekly Change: - 14.8 percent
Market Capitalization: £955 million
Upbeat Brokerage Sentiment Doesn't Slow Neteller Dip
Despite an upbeat first-half trading update and a "buy" recommendation from its broker, shares in Neteller, a British online money-transfer company, fell nearly 8 percent Thursday on the London Stock Exchange.
The company, a year removed from announcing its $136 million settlement with the United States Department of Justice, projected second-quarter revenue would exceed that from the first, $17 million, by 10 percent.
E-wallet fee revenue -- merchant and customer fees generated via use of the company's e-wallet -- has shown double-digit, quarter-on-quarter growth, it said. E-wallet revenue during the first quarter of the 2008 fiscal year totaled $11.4 million.
Neteller said signups and customer growth followed past trends, whereby second-quarter metrics show reduced growth when compared to those from the first.
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Weekly Statistics from Bloomberg.com
Listing: Alternative Investment Market, London Stock Exchange<
Low Close: 58 pence ($1.15)
High Close: 58 pence
Weekly Change: None
Market Capitalization: £69.85 million ($138.1 million)