NETeller Adds 500,000 New Customers in First Half 2006
NETeller Plc (NLR.L) has issued a trading statement for the first half of 2006 ahead of the official publication of its fiscal results, revealing that it has added more than 500,000 new customers during the six-month period. The company's total number of customers stood at 2,909,190 on June 30, 2006. The number of average daily sign-ups of new customers increased by 19 percent to 3,251 over the period, with an average of 3,609 new sign-ups in Q1 and 2,898 in Q2. NETeller says growth in new customer sign-ups has historically been strongest in the first and third quarters, but the decline in the average daily sign-up rate was more pronounced in Q2 2006 than in previous years. In the first half of 2006 average daily receipts from customers grew 56 percent to $4.68 million, with US$4.69 million being the average in Q1 and $4.66 million being the average in Q2.
NETeller now has a base of more than 3,500 online merchants who offer NETeller as an accepted payment method, and in the first half of 2006 the company added online gambling providers Paddy Power, Unibet, ukbetting, Nordicbet, PKR.com and more. The company expects to report that revenue for the second quarter of 2006 was in line with its house broker's forecasts.
Since June 14, 2006, NETeller has purchased 800,000 of its own shares for a cost of £4.6 million ($8.5 million) as part of an ongoing buyback program.
CryptoLogic on NASDAQ's Top Tier
Online gambling software provider CryptoLogic, Inc. (CRYP; CRP.L; CRY.TO) is now included in the NASDAQ Global Select Market, a new market with high initial listing standards based on earnings, market value and liquidity requirements. Beginning on July 3, NASDAQ-listed companies became listed under a new classification system consisting of three tiers--the NASDAQ Global Select Market, the NASDAQ Global Market and the NASDAQ Capital Market. The NASDAQ Global Select Market tier recognizes world-class companies with commitments to the highest standards and best corporate governance.
CryptoLogic President and CEO Lewis Rose stated, "CryptoLogic's qualification in the Global Select Market places us among the top third of NASDAQ-listed companies. It is particularly fitting that CryptoLogic meets the market's stringent new requirements as we've set benchmarks within our own industry by adhering to the strongest standards of governance, transparency and probity."
Paddy Power's World Cup Figures
The day before the World Cup final match in which Italy defeated France in a shootout, Paddy Power Plc (PAP.L) had recorded more than 20 million euro (US$25 million) in online and telephone bets since the beginning of the tournament. Betting figures for the final match are not yet available, but the company expected an additional 70,000 bets before the game and another 30,000 during it.
OPAP Doubles World Cup Betting Forecasts
Greek press reports indicate that Greek lottery and sports betting operator OPAP A.S. (OPAPF.PK) received 450 million euro (US$573 million) in bets through its fixed-odds Stihima game during the World Cup. Forecasts had predicted that the company would only receive between 200 million euro ($255 million) and 250 million euro ($318 million). The stronger than anticipate performance is likely to translate into a 6 percent increase in earnings per share for the company.
A number of OPAP agents held a strike on the final day of the World Cup tournament. OPAP claims that 3,898 of 5,500 agents remained operational, but the agents' union says that only 33 percent OPAP's terminals were used.
Gaming and Casino Fund Rises While Rest of Market Falters
As of June 30, 2006, the Gaming and Casino Fund (NASDAQ:GACFX) had gained 1.8 percent in its first three months of operation, while the Standard & Poor's 500 Index dropped 1.9 percent over the dame period. The Gaming and Casino Fund says it invests at least 80 percent of its assets in casinos, gaming manufacturers, pari-mutuel companies and lottery support systems as well as electronic/video game developers, manufacturers and distributors.