Market Briefs - 23-27 April 2007

30 April 2007

Good News for Betsson Shareholders

Betsson (STO:BETS B) has said its 2007 operating profit has "developed well," and will hold its annual general meeting on May 22 to discuss (among other issues) bumping up its dividend from nil to $0.07 a share.

Lottomatica Forecasts Strong Q1 2007

Lottomatica SpA (BIT:LTO), the Italian gaming company, has said its first quarter went "very well," bolstered by its scratch-card business, which CEO Marco Sala said has been experiencing "an incredible performance." Sala also said that the company plans to launch domestic sports-betting services in September 2007. Its Q1 results are scheduled for release on May 4.

Online Poker Drives Q1 Profits for Svenska Spel

Svenska Spel has released its Q1 results, which reveal online poker-driven profits of $212.9 million, a 22 percent increase against last year's figure. "We are happy … to deliver such a good result in the face of fierce competition," said company CEO Jesper Karrbrink.

Crypto will De-List, Re-List

CryptoLogic (TSE:CRY) will reportedly de-list its shares from the Toronto Stock Exchange (TSX), the NASDAQ, and the Official List of the U.K. Listing Authority, and will also cancel trading in its shares on the London Stock Exchange's (LSE) EEA Regulated Market. The move comes as part of the company's September decision to pull up stakes and relocate to the friendlier legislative confines of Ireland. A new parent company, CryptoLogic Ltd., is expected to be listed on the TSX, NASDAQ and the U.K. Official List in June.

Tabcorp Quashes Takeover Rumors

The Australian media last week reported that Tabcorp (ASX:TAH) had allegedly become the target of a joint takeover bid from Publishing and Broadcasting Ltd., Tattersall's and Macquarie Bank. Shares in the company jumped 5 percent Monday on takeover-related speculation. On Thursday, however, Tabcorp snuffed out the rumors, saying in a terse prepared statement that it had not received a bid approach.

PacNet in Trouble with NASDAQ

Asia-facing e-biz solutions provider PacificNet (NASDAQ:PACT) has warned that its shares may be de-listed from the NASDAQ, after it failed to file its 2006 annual report on time. The company said its report, due April 17, is being filed late because its audit committee is currently conducting an internal investigation into its stock option granting practices.

Probability Reports Significant Cash Depositor Increase

Probability (SEA:PBTY), the London-listed mobile gambling firm, released its fourth quarter results, which show a 49 percent increase in the number of cash depositors and an 83 percent rise in gross wagers processed to £6.6 million ($13.2 million). The company also said its cash balance, £1.7 million ($3.4 million), is in line with expectations following significant investment in previous months. It also said it expects the number of registered players in the United Kingdom to increase by an average of 10,000 during each month of the second quarter.

  • Click here to view Probability's fourth quarter results.

    Strong Full Year Pretax Profit for NetPlay TV

    NetPlay TV (SEA:NPT) has released its full year results, which reveal a pretax profit of £1.71 million ($3.4 million) against £1.79 million ($3.6 million) in 2005. The company said it sees 2007 as a year of continued investment in its acquired businesses that have "excellent growth potential," and that it is well placed to build a sustainable interactive television gaming business.

  • Click here to view NetPlay TV's full year results.

    'Excellent' FY '06 Results for BetOnMarkets

    BetOnMarkets (HKG:0575), the fixed-odds betting operator, has released its full year results, which show a 34 percent increase in turnover to $100 million and a 290 percent jump in gross profit to $5.3 million. "These are excellent results, which clearly demonstrate BetOnMarkets' superior customer offering and international appeal," said company CEO Jean-Yves Sireau. "We have accepted over 10 million transactions since the group was established in 2000 and we look forward to continued growth in 2007."

    GGT Narrows Pretax Losses in First Half

    Global Gaming Technologies (GGT.L) has said it will continue looking for acquisitions outside of the I-gaming sector while reporting a narrower first-half pretax loss. The London-listed company reported a first-half loss of £126,000 ($252,074) against £940,000 ($1.8 million) in 2005. It also said its search for a new chief executive continues and plans to change its name in due course.

  • Click here to view Global Gaming Technologies' interim report.

    Shares in Party Slip as US Regulatory Legislation is Introduced

    On news of U.S. Rep. Barney Frank's regulatory I-gaming legislation Thursday, shares in PartyGaming (PRTY.L) fell 12.8 percent to 51p. BettingMarkets.com theorized that the shares dropped in response to market sentiment that Frank's bill was likely to benefit domestic operators. "The market did not take into account the fact that PartyGaming might still be able to enter the U.S. market," the news source said, "or, that the company, with its global spread, might actually be an attractive takeover target for any U.S.-based company wishing to enter the global online poker arena."