Centrebet Ponders AIM Float
The Sydney Morning Herald reports that bookmakers Con and George Kafataris have begun meeting with brokers in Australia and Britain over the possibility of listing their online gambling and betting shop company Centrebet on London's Alternative Investment Market. The Kafataris brothers bought Centrebet from Jupiters Casino in 2003 for $46.5 million. Following the purchase, they merged Centrebet with SportOdds, their phone and Internet betting operation. The company's turnover is expected to be over A$1 billion (US$752 million) per year, and its value is thought to be more than A$100 million (US$75.2 million).
PartyGaming and Sportingbet Added to Morgan Stanley Capital Indices
Serving as a testament to the success of I-gaming stocks is that PartyGaming Plc (PRTY.L) and Sportingbet Plc (SBT.L) were added to the Morgan Stanley Capital Indices (MSCI) following the annual MSCI Europe index review in early May.
BoS Purchases Manila-Based Sports Books; Issues Annual Results
BetonSports Plc (BSS.L) says that results for the full year ended Feb. 5, 2006 "show that the benefits are feeding through of the major changes implemented in the business during the year." Gross margins improved 22 percent year-on-year to US$84.6 million, and pre-tax profit rose 12 percent to $14.9 million. For the first quarter of the new year the company has reported a 64 percent increase in gross win margin to $26 million.
BetonSports last week purchased two Manila-based sports betting sites--Hooball and 777ball--for $38 million.
Paddy Power Update
Paddy Power (PAP.L) Chairman Fintan Drury last week issued a statement ahead of the company's annual general meeting to report that turnover is running 25 percent higher this year compared to the corresponding period last year. Betting shop turnover is up 19 percent, telephone betting is up 18 percent and online turnover is up 44 percent.
Intralot Considers Foreign Exchanges
Greek press reports state that lotteries solutions and services provider Intralot and its partner Turkcell are considering listing their subsidiaries Intelek on the Turkish Stock Exchange. Reports also indicate that Intralot is considering its subsidiary Eurofootball, which is 51 percent controlled by the Bulgarian State, on the Sofia Stock Exchange in Bulgaria.
Reporting
888 Holdings Plc (888.L) held its annual general meeting on May 20 and issued a trading update for the first quarter of 2006, revealing that net gaming revenue had risen to US$84 million, an increase of 42 percent over Q1 2005. Online casino operations were responsible for $45 million (an improvement of 15 percent), while poker was responsible for $39 million (an improvement of 95 percent).
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FUN Technologies Plc's (FUN.TO) (referred to as Old FUN) Scheme of Arrangement regarding its deal with Liberty Media Corporation (NYSE: L) was completed March 10, making it a wholly owned subsidiary of FUN Technologies Inc. and Liberty, which possesses 51 percent of the shares of FUN Technologies Inc. As part of the transaction, Liberty invested US$50 million in FUN Technologies Inc, which made a significant positive impact on FUN’s balance sheet.
As the acquisition of Old FUN by FUN Technologies Inc. was completed on March 10, there are no 2005 financial statements for FUN Technologies Inc. that can be used on a comparative basis for the current period results. (FUN was incorporated on Nov. 18, 2005.)
For the 22 days ended March 31, 2006, FUN Technologies Inc.'s revenue was $2.26 million, while net loss was $2.4 million.
FUN Technologies, Inc. - Quarterly Report
For the first quarter of 2006, BetandWin.com Interactive Entertainment AG (BWIN.VI) reported record gross gaming revenues of EUR 97.3 million (US$125 million), a 294 percent improvement (152 percent if Ongame is excluded) compared to the corresponding period last year. EBITDA reached EUR 14.8 million ($19 million), a 673 percent improvement (342 percent if Ongame is excluded). Consolidated profit reached EUR 0.5 million ($1.9 million), compared to a loss of EUR 300,000 ($386,000) in Q1 2004.
BetandWin.com Interactive Entertainment AG - Quarterly Report
Unibet Group Plc (UNIB.ST) has released its financial results for the first three months of 2006, which it calls its first full quarter of a fully migrated business with a joint technical platform and one brand. Gross winning revenue for the quarter amounted to £17.4 million ($32.7 million), an improvement over Q1 2005's £6.9 million ($12.9 million), and net profit amounted to £5.6 million ($10.5 million), an improvement over £2.5 million ($4.7 million). CEO Petter Nylander stated, "Unibet Group is now fully integrated with a common brand in all our markets. We have a strong foothold in the Nordic countries, Benelux and Southern Europe. We have launched our site in eight languages and will introduce new offerings in the year to come."
Unibet Group Plc - Quarterly Report
Software provider CryptoLogic (CRY.TO; CRYP.L) has reported record results for the first quarter of 2006, with revenue increasing 33 percent year-on-year to US$27 million while earnings increased 58 percent to $7.7 million and earnings per share increased 65 percent to $0.56. CryptoLogic's board of directors on May 9 declared a 71 percent increase in the quarterly cash dividend to $0.12 per share, payable on June 15, 2006 to shareholders of record on June 8, 2006.
CryptoLogic Inc. - Quarterly Report
Payment processing services provider FireOne Group Plc (FPA.L) reported a profit of US$8.2 million, or $0.16 per share, for the first quarter of 2006, an improvement of 119 percent. Revenue increased by 69 percent on a pro forma basis to $25.2 million, with revenue from the FirePay wallet increasing by 104 percent to $18.8 million.
FireOne Group Plc - Quarterly Report
Boss Media AB (BOSS.ST) has reported a 36 percent increase in net sales to SEK 75.5 million (US$10.4 million) for the first quarter of 2006, as compared to the same period last year. Royalty revenues increased 43 percent to SEK 60.7 million ($8.3 million). Net profit remained about the same as last year at SEK 7.5 million ($1 million).
Boss Media AB - Quarterly Report
Software provider Las Vegas From Home.com Entertainment Inc. (LVH.TSXV) has reported CA$3.67 million (US$3.26 million) in revenue for the three-month period ended March 31, 2006, an improvement over Q1 2005's CA$2.08 million ($1.85 million). The company's net gain for the period amounted to CA$315,000 ($280,000), slightly lower than Q1 2005's CA$364,000 ($323,000).
Las Vegas From Home.com Entertainment Inc. - Quarterly Report