Bwin Shares Slide on German Legal Setback
Shares in Bwin fell 7 percent Monday on news the Vienna-listed bookmaker suffered a setback in a long-running case currently before the German Federal Court of Justice. View the full story.
Mfuse Gets £1.55-Million Boost from Blandford
Mobile gambling technology provider Mfuse has raised £2.55 million through a round of fundraising, the proceeds of which derive primarily from Internet gambling pioneer Mark Blandford, who joins the company as non-executive director. View the full story.
Parlay Shares Fall under Weight of Negative Results
Shares in Parlay Entertainment shed 16 percent on a full-yearly net loss of CA$76,000. The Toronto-listed bingo software supplier revealed revenues of CA$8.03 million, down 11 percent on 2006, with royalty revenues down 6 percent to CA$7.32 million.
Boss to De-List following GEMed Buyout
Boss Media said it will de-list from the OMX Nordic Exchange Stockholm, effective April 18. GEMed, a joint acquisition vehicle consisting of Medstroms and Gtech, has acquired more than 90 percent of Boss' issued share capital since mid February.
Sportech Full-Yearly Operating Profit Up, Eyes Tote Bid
Sportech reported an 18 percent jump in full-yearly operating profit to £18.3 million -- the result of improved margins from internal restructuring and the relocation of its I-gaming division to Malta, it said. Sportech also confirmed its interest in acquiring the U.K. Tote, following a government decision earlier this month to auction the state-owned bookmaker.
Crypto Continues Trend of Q-on-Q Growth
CryptoLogic revealed fourth-quarter revenue of $20.4 million and net earnings of $4.3 million, besting November 2007 forecasts of $18.5 million and $3 million, respectively. A comparison of full-yearly metrics, however, shows 2007 revenue of $73.7 and net earnings of $5.5 million, down 29 percent and 79 percent, respectively, against figures from the year-ago period.
Chartwell Reveals $0.9 Million First-Quarter Profit
Calgary-based software provider Chartwell Technology has revealed a first-quarter profit of $0.9 million, with a dividends of $0.05 per share, compared to $0.5 million and $0.03 per share for the year-earlier quarter. Revenue rose 5 percent to $5.8 million from $5.5 million.
PacificNet Re-Brands, Projects $60 Million in Full-Yearly Revenue
Asia-facing gaming technology group PacificNet said it plans to re-brand as PACT in an effort to reflect its growing gaming technology business in its gaming division. In a trading update, the Nasdaq-listed group said during Q1 2008 it expects to incur a one-time, non-recurring loss. Ahead of its annual report, PacificNet said it expects revenues of $60 million.
Strong Year for Churchill Downs' ADW Arm
Louisville-based Churchill Downs Inc. revealed a full-yearly loss of $5.1 million, but said revenue increased on two advanced-deposit wagering (ADW) acquisitions, as well as on the launch of Churchill's own ADW business, TwinSpires.com.
Inspired Mulls Pub Sector Exit
Inspired Gaming said it is looking to exit the pub sector after reporting weak trading conditions. The London-listed firm, which supplies more than 80,000 AWP terminals to leisure outlets, will look to focus its "capital allocation and management resources on the faster gaming and leisure sectors."
Watershed Moment for Playtech Shares
Financial Times reported Playtech closed at an all-time high Tuesday as the company concluded a roadshow with institutional investors. Following on from a strong trading update, shares were up 4.3 percent to 428.50p.
Brokerage Adjusts William Hill, Ladbrokes Forecasts
JP Morgan has slashed its target price on William Hill to 465p from 610, upgrading shares from "overweight" to "underweight," while downgrading shares in rival Ladbrokes from "overweight" to "neutral," with a target price cut to 345p from 430. In a research note, the brokerage encouraged Ladbrokes investors to buy into William Hill as it considers the price-to-earnings valuation gap to be too wide.
StanleyBet Takes Two-Thirds Stake in Polish Sports Betting Operator
Stanleybet subsidiary Stanley International Betting Ltd. has taken a two-thirds stake in Star Typ z.o.o. (STZ), a Polish sports betting operator. STZ owns and operates a network of 450 betting shops. Stanley International looks to increase that number within the next three years, it said.