Gala Owners Sell 30 Percent for £200 million
British bingo and casino operator Gala has announced that rather than floating on the London Stock Exchange, its private-equity owners, Candover and Cinven, have sold a 30 percent stake in the company to rival private-equity firm Permira for £200 million. The deal values Gala at £1.89 million.
Reports Released
FireOne Group Plc's (FPA.L) maiden interim results boast a doubling of profits over the corresponding period last year. Pre-tax profits for the six-month period ended June 30, 2005 climbed to $12.6 million from $5.77 million during the same period in 2004, while revenues increased to $32.5 million from $19.9 million. FireOne, the operator of the Firepay Internet payment transaction system, raised US$43 million in early June by placing 10 million shares on the Alternative Investment Market of the London Stock Exchange. Its share price doubled from 241p at listing to 480p following the publication of the interim results. As of Monday it had slipped a few points to 470p.
FireOne Group Plc - Interim Report
Interactive Systems Worldwide Inc (ISWI), operator of the SportXction play-by-play sports wagering system, reports that its revenue for the third quarter of 2005 ended June 30 has improved to US$62,000 as compared to $15,000 during the same period last year. The company has also reduced its net loss to $1.27 million from $1.7 million. ISWI continues to reports impressive growth in player sessions, new players, handle, hold and revenue. Over the three-month period from April 1to June 30, 2005, the company logged 41,226 players sessions, 5,392 new players, $3.6 million in handle, $211,000 in hold and $62,000 in revenue. Over the previous three-month period (Jan. 1-March 31), those figures stood at 35,184 player sessions, 6,772 new players, $2.3 million in handle, $153,000 in hold, and $46,000 in revenue. The company says its U.K. subsidiary, GIG, is in advanced negotiations with several leading international bookmakers and expects to announce agreements in the near future.
Interactive Systems Worldwide Inc - Quarterly Report
Swedish-owned online gaming operator Unibet Group Plc (UNIB.ST), which has over 400,000 customers primarily in the Nordic region, has entered into a deal to acquire Global Leisure Partners Ltd.-parent company of I-gaming operator MrBookmaker.com--for £75.9 million, payable through £22.25 million up front, £22.25 million in loan notes and 2,400,000 new issued shares. For the first six months of 2005, MrBookmaker reported £29 million in turnover, £6.2 million in gross winnings and £3.3 million in profit. Highlights from Unibet's recent financial report for the second quarter ended June 30, 2005 include an increase in turnover to £59.9 million compared to £48.9 million over the corresponding period last year, an increase in gross winnings to £9.2 million from £5.2 million, an increase in gross winnings margin to 15.4 percent from 10.6 percent and an improvement in profit to £2.8 million from £1.4 million.
Unibet Group Plc - Interim Report
Bingo.com Ltd (BIGR.OB), the online bingo operator that recently purchased Winabingo.com and Groovybingo.com, has reported its second quarter 2005 figures, showing an 85 percent increase in revenue to $457,339 compared to the same period last year. The second quarter resulted in $1,522 in profit for the company.
Bingo.com Ltd - Interim Report