Excapsa Continues to Target Casino Acquistion
Toronto-based online gaming software developer Excapsa Software Inc. remains committed to buying a casino software developer after posting pretax net income of £9 million ($16.8 million) for the six months ending June, compared to a loss of $431,000 in 2005. "We are actively pursuing casino software; we would like to buy a casino software developer and extend our offering," CEO Jim Ryan told Reuters. The company first made its intentions known after floating on Alternative Investment Market in February. The £9 million turnaround came after the company renegotiated a licensing deal for poker software with eWorld, operator of UltimateBet.com. The company posted a 27 percent rise in net income.
Reporting
Toronto-based online and interactive casual games provider Fun Technologies Inc. (FUN.L) has announced its results for the second quarter and first half of 2006 ending June 30. Highlights include an increase in revenues to $10.1 million for Q2, a difference of 135 percent over the same period in 2005. Fun Games revenue for the second quarter increased 231 percent, year over year; Fun Sports revenue for the second quarter increased by 65 percent, year over year. Pre-tax profits for Q2 were $2.8 million and $3.4 million respectively for the first half.
Fun Technologies - Q2 2006
Online sports betting and gaming operator Interactive Gaming Holdings (IGH.L) has reported strong trading for the first six months of 2006 ending May 31. The company posted a £928,000 pre-tax loss on sales of £8.85 million, up from last year's figures of £321,000 and £1.66 million respectively. The company attributes the increase to value enhancing acquisitions. The company also paid special allegiance to the success of the World Cup, with bets totaling more than £5 million and returning a gross profit margin of over 8 per cent.
Interactive Gaming Holdings - Q2 2006
Unibet Group plc (UNIB.ST) has released its interim results for the second quarter and first half of 2006 ending June 30, reporting gross winnings revenue at £18.4 million and £35.8 million, respectively. Other highlights include a profit after tax increase of £3.9 million for Q2 and a half-year profit after tax increase of £9.5 million. Earnings per share were £0.140 for Q2 and £0.339 for the first half-year. Once again the World Cup 2006 proved profitable for another sports book. Unibet saw records in monthly gross turnover and numbers of bets taken, with a satisfactory gross winnings margin during the championship.
Unibet Group plc - Q2 2006
Austrian online bookmaker bwin Interactive Entertainment AB (BWIN.VI) has released its results for the second quarter and first half of 2006 ending June 30, posting its first quarterly core loss in two years. The company reported a loss after tax of £19.5 million in Q2, attributing it partly to depreciation following its acquisition of Ongame. Highlights, however, include record sports betting turnover of £368 million, up 97 percent due to wins by favorites during the World Cup, and gross gaming revenues of around £64.2 million, up 162 percent. Half-year results include gross gaming revenues of around £130.7 million, up 216 percent.
bwin Interactive Entertainment - First Half Results
Bingo.com, Ltd. (OTCBB:BNGOF) has announced its financial results for the second quarter ended June 30, 2006. Highlights include online gaming revenue increased to $883,127, an increase of 49 percent over gaming revenue of $593,965 in the first quarter of 2006. Total revenue increased to $896,277, an increase of 26 percent over revenue of $710,011 in the first quarter of 2006.
Bingo.com, Ltd. - Second Quarter Results
U.K.-based online betting company ukbetting plc (UKB.L) will announce results for the six months ended June 30, 2006 on Sept. 12. Chairman Peter Dubens and Chief Executive Officer Eric Semel will be available throughout the day for telephone interviews or one-to-one meetings.
Not Reporting
Online betting firm BetonSports PLC (BSS.L), still facing a U.S. federal indictment, on Wednesday cancelled its scheduled announcement of key performance indicators for the second quarter, following its decision to shut down its Costa Rican and Antiguan operations, which accounted for about 95 percent of its profits. The company intends to focus on its Asian operations. Altium Securities analyst Wayne Brown said the closure represented a worst-case scenario for shareholders and also said that the group's Asian-facing businesses may need to be sold to settle all outstanding liabilities. Trading of BoS shares remains suspended.