eGaming Review reports that Gibraltar-based Trafalgar Gaming, operator of the 32.com online casino and poker site, has contracted Numis to help prepare for an IPO on the London Stock Exchanges. The float is expected to come in at US$145 million, which suggests the company's profits for the year are in the neighborhood of $7 million. Ed Ware, a former Ladbrokes exec and owner of a 36 percent stake in Trafalgar, stands to make over $50 million through the listing.
Sweden-based Ongame, meanwhile, has confirmed that it plans to float on the LSE's Alternative Investments Market next year. The company owns Pokerroom.com, which is believed to be the world's third-largest virtual poker room, as well as software provider PokerNetwork.
LSE Briefs
Reuters reports that investment bank UBS last week placed shares in online gambling operator Sportingbet (SBT.L) worth £21 million pound. The company reportedly sold 6 million shares at 357 pence each.
ukbetting plc (UKB.L) on Sept. 7 will announce its results for the six months ended June 30, 2005.
Stanley Leisure (SLY.L) has finalized details of its plan to return £327 million cash (250p per share) to shareholders. The money will come from £504 million in proceeds from the sale of its betting shops to William Hill.
Crypto Shares Drop
CryptoLogic's (CRYP) stock took a hit on Tuesday following news that Betfair will drop the company as its poker software supplier. Shares on the Toronto exchange closed at $29 Monday, opened at $24 Tuesday and remained near $24 through the rest of the week. The company was trading at over $40 per share in June. Shares on the Nasdaq, meanwhile, closed at $23.88 Monday, opened at $19.85 Tuesday and hovered around the $20 mark through the rest of the week. Betfair says it will launch a poker network using proprietary software. CryptoLogic hasn't yet stated a plan for offsetting the loss of Betfair's business.
German Premiere Predicts Profitable Year
Premiere, Germany's biggest pay-TV broadcaster, said on Tuesday following the release of its six-month results that it expects to be profitable for the year 2005. The company reports net profit for the first six months of 2005 of €3.3 million compared to a loss of €61.2 million for the same period in 2004. The company's operative results fell short of projections, however, and shares fell almost 7 percent on the day following the announcement. Further, the company hasn't yet deducted the costs of its IPO in March, which could amount to €9 million.
Reports
Six-month profits for Boss Media AB (BOSS.ST), according to the company's interim report for the period starting Jan. 1, 2005 and ending June 30, are down 45 percent compared to the first half of '04. Net sales increased by 5 percent to SEK 109.2 million compared to SEK 103.7 for the same period in 2004, but profits after financial items decreased from SEK 38.5 million to SEK 21.1 million. Earnings per share decreased from 0.5 to 0.38. The company has also announced that Peter Bertilsson will resign from his position as CEO.
Boss Media AB - Six-Month Report
The latest quarterly report from Las Vegas From Home.com Entertainment Inc. (LVH.V) indicates that the company has notched its second consecutive profitable quarter. The company reports net gains of CA$385,773 for the three-month period ended June 30, 2005. Its quarterly revenues of $2,684,624 are a 38.7 percent increase over the previous quarter and an 849 percent increase over the same period in 2004.
Las Vegas From Home.com Entertainment Inc. - Quarterly Report
Zone4Play, a developer of multi-platform I-gaming technology, reports significant increases in revenues and profits for the second quarter of 2005. The company reports in its financial results for the quarter ended June 30, 2005 that revenues grew to US$343,457 from US$150,424 (127 percent increase) in Q1 2005. Gross profits for the first six months of 2005, meanwhile, increased by 94 percent over the previous six-month period.
Zone4Play - Quarterly Report