Bingo Portal Reports Quarterly Results
Portal operator Bingo.com Inc. (BIGR.OB) has reported its financial results for the first quarter ended March 31, 2004, boasting a 41 percent increase in revenue to $246,189, as compared to revenue of $174,470 over the same period last year. The company also increased its operating costs by 27 percent, from $132,837 to $168,090 due to increased prize awards, an increased payroll and weakness of the U.S. Dollar in relation to the Canadian Dollar. Overall, Bingo.com's advertising rates have risen by 10 percent, and the company has obtained a greater number of individual advertisers. Net loss for the period amounted to $38,479, compared to last year's $134,177.
Resolutions Pass at YooMedia's AGM and EGM
All resolutions passed at YooMedia Plc (YOO.L)'s recent annual general meeting and extraordinary general meeting, and consequently the company will place 28 million new ordinary shares at 25 pence each, giving it £7 million in new funds. Chairman Michael Sinclair provided a trading update to shareholders, announcing that trading for the four months to April was broadly in line with market expectations and management forecasts. He added that the integration of recent acquisitions Fancy a Flutter and GoPlay TV are proceeding well and that the company should soon begin experiencing increased revenues for the remainder of the year. The company's trial period with Trigger Radio and BBC Radio 5 is also coming to a close, and soon YooMedia will license its technology on commercial terms.
William Hill - Double-Digit Growth in All Divisions
William Hill Plc (WMH.L) has reported trading results for the 19 weeks ended May 11. During the period, expenses had risen by 12 percent due to longer trading hours and increased staff costs. Counteracting the increase expenses were double-digit growth rates in all three of its divisions, amounting in a 22 percent rise in gross win for the company. The company experienced a 43 percent growth in pre-tax profits to £201.7 million in 2003. Goldman Sachs has lifted its full-year profits forecasts for William Hill by 10 percent to £225 million.
SAZKA Issues Bonds
Czech lottery company SAZKA, A.S. on May 5 issued 175 million euros worth of bonds on the international capital market, with a 10-year maturity period and interest of 7.375 percent. Credit Suisse First Boston (Europe) Ltd. managed the issuance in conjunction with financial group Penta Finance. When the company recorded first quarter profits of CZK 450 million (US$17.6 million), it surpassed projected profits by nearly CZK 90 million (US$3.5 million).
Reports Released
The first-quarter financial results for Greek gaming and lotteries company Intralot S.A. show EBITDA that has risen 7.5 percent year-on-year to 32.5 million euro and earnings before tax that have increased 5.6 percent year-on-year to 28.9 million euro. International revenues more than tripled in the quarter as compared to the same period last year, contributing 55.1 percent to group turnover as compared to 15 percent last year.
Intralot S.A. - First Quarter Report