IAS Acquisition
Australian bookmaker International All Sports Ltd (IAS.AX) has completed an acquisition of 50 percent of Internet Betting Co Plc, a Gibraltar-based Internet betting firm. IAS says that by providing expertise in international racing and sports wagering it will be able to provide additional value to IBC, whose results so far have been driven by soccer betting.
Upcoming Reports
NDS Group Plc (NNDS) will announce its third-quarter 2004 financial results on April 27. Shareholders can dial in to the conference call via telephone or may listen to an audio replay over the Internet. More information is available at www.nds.com.
Scientific Games Corporation (SGMS) will release its financial results for the first quarter of 2004 on April 22. The company will also hold a conference call that stockholders may join via telephone or listen to via webcast. More information is available at www.scientificgames.com.
Reports Released
GTECH Holdings Corporation (GTK) announced its financial results for fiscal year 2004 last week, boasting record revenues of $1.051 billion, which is an increase of seven percent over 2003. Net income increased 29 percent to $183 million, and diluted earnings per share rose 17 percent to $2.84. Gross profit margin was also a record 43 percent for the year. Revenue for the fourth quarter of 2004 was $279.6 million compared to last year's $270 million. Net income for the quarter was $47.8 million, 14 percent higher than $41.9 in the same period last year. The company also announced that it will pay stockholders a quarterly cash dividend of 17 cents per share. Next month GTECH will prepay the $90 million aggregate principal amount of its 7.87 percent Series B Guaranteed Senior Notes that are due in May 2007.
World Gaming Plc - Year-end Report
BetandWin.com (BWIN)'s financial results for the fourth quarter of 2003 show a turnover of 126 million Euros, up 89 percent for the corresponding period last year. BetandWin also recorded EBITDA of 2.6 million euro in what it calls the "best quarterly result since the company's inception." Its profit after tax for the quarter was 1.4 million euro and the number of bets placed was nearly twice as much as last year's fourth quarter. Turnover on the year was up to 400 million euros, 228 million euro higher than last year. Annual net winnings had nearly doubled and the company took a profit after tax of 0.5 million euro. Last year the company took a net loss of 13.3 million euros.
World Gaming Plc - Year-end Report
Australian Betcorp (BCL.AX), the parent company of WWTS.com, released its first quarter results of 2004, showing a substantial decline in trading performance, especially in the Asian market. The company suffered a net loss of $1.9 million on the quarter, while last year it took a profit of $6.1 million during the first quarter. EBITDA for the year was a loss of 830,000, although last year Betcorp had a positive EBITDA of $1.9 million. The low numbers are for the most part attributable to an increased sophistication of WWTS' Asian agents and an adverse performance of high-end customers.
World Gaming Plc - First Quarter Report