Rumored SkyCity-UNiTAB Merger
Auckland-based gaming firm SkyCity Entertainment Group is rumored to be considering a merger with wagering operator UNiTAB Ltd (UTB.AX). A takeover would enable the two companies to complement each other, with both holding expertise in respective gambling segments. SkyCity operates casino houses in Adelaide, Darwin and New Zealand, while Queensland-based UNiTAB provides gaming and betting services in Brisbane, South Australia and the Northern Territory.
Tipp24 Meets Profit Goals
German online lottery company Tipp24 2296124.F has met its goal of doubling profits in 2005. The company's profit improved from 1.6 million euros in 2004 to 3.3 million euros in 2005 as turnover improved by 34 percent to 26 million euros and the number of customers rose by 30 percent to 1.3 million users. Tipp24's business model is such that customers pay in advance for games, and the company says that the fact that its profit grew faster than turnover is proof of the success of its business model. Tipp24 raised 40 million euros in October through a float on the Frankfurt Stock Exchange. The company intends to use the proceeds to expand its product range.
All-Time Record Results for Veikkaus
Finnish state gaming company Veikkaus achieved an all-time record of 400.9 million euros in earnings in 2005 (a 0.8 percent improvement over the previous year) and returned 381.4 million euros to the Finnish Ministry of Education. The company's annual turnover of 1.3 billion euros represents a growth of 55 million euros (4.4 percent) over the previous year. The games experiencing the biggest surge in popularity were fixed odds betting games, which posted a 38.1 percent increase in sales to 134 million euros, and keno, which posted an 11.9 percent increase in sales to 246.4 million euros.
BAW Completes Ongame Deal; DKW Exercises Over-Allotment
BetandWin.com Interactive Entertainment AG (BWIN.VI) has announced the closing of its acquisition of Ongame e-solutions AB. All conditions of the acquisition, including approval by the company's supervisory and management boards, have been satisfied.
BetandWin and Dresdner Kleinwort Wasserstein (DKW) have jointly announced that an over-allotment option of up to 450,000 shares has been exercised to its full extent. DKW placed the shares in addition to 2.83 million new shares from a capital increase.
Reporting
Payment processing company FireOne Group Plc (FPA.L) reports a net profit increase of 91 percent to US$15.6 million in 2005 compared to the previous year. Revenue improved by 78 percent compared to 2004 to reach $76.3 million. Compared to Q3 2005, fourth quarter revenue improved by 19 percent to reach $23.8 million. Gross profit improved as a percentage of revenues to 61.1 percent in the fourth quarter of 2005 and 59.7 percent over the full year. FireOne's board of directors has recommended a final maiden dividend of $0.187 per share.
FireOne Group Plc - Annual Report