Lanir Increases Empire Stake
Noam Lanir, CEO of Empire Online, has boosted his stake in the group after acquiring shares from one of its largest shareholders, Awen International Corp. Lanir commandeered 30 million shares from Awen at 41p per share, costing him £12.3 million. The purchase takes his stake to 95.6 million shares, equivalent to around 32.6 percent of the issued share capital. It also halves Awen's stake in Empire to just over 30 million shares. The enactment of the Unlawful Internet Gambling Enforcement Act in the United States last month knocked Empire deep into the red, and the company is now trading at 75 percent less than it flotation price.
Reporting
European sports book and gaming operator Unibet Group plc (UNIB.ST) has recovered from a less-than-stellar World Cup betting season, reporting a rise in gross winnings to £19.3 million for the three-months ending September 2006 (up from £11.1 million in the same period in 2005). With the release of its financial results for the third quarter and first nine months of 2006, Unibet also reported revenues of £55 million for the first nine months of 2006 (up from £27.2 million in 2005). CEO Petter Nylander said he was happy that the betting margins had recovered to more normal levels following a disappointing run of FIFA World Cup result in the second quarter and expected Unibet's poker product to produce improved results in the next two quarters.
Unibet Group Plc - Third-Quarter Earnings
Reno-based slot machine manufacturer International Game Technology (IGT) has reported a slight increase in net income over last year with the release of its operating results for the fourth quarter and fiscal year ending Sept. 30, 2006. Fourth quarter net income totaled US$114.9 million versus $105.4 million for the same quarter last year. The fourth quarter was negatively impacted by Gulf Coast hurricanes totaling $9.5 million, after tax. Net income for the fiscal year increased to $473.6 million, up from $436.5 million in 2005. The company recorded total revenues of US $638.7 million, up 5 percent, and record total gross profit, up 21 percent over the prior year.
International Game Technology - Third-Quarter Earnings
With the release of its third-quarter and nine-month figures, Online payments processor FireOne Group plc, which garnered around 85 percent of its revenues from the United States, said its exit from the U.S. market will have a significant negative impact on the business and its financial results. In the figures, however, revenues for the three months ending Sept. 30 rose 31 percent to US$26 million. During the nine-month period they rose 45 percent to $76 million. Gross profit was up 38 percent to $16.6 million in the three months and 59 percent to $50 million in the nine-month period. The company said it would incur a non-cash impairment of goodwill and intangible assets of $78 million.
FireOne Group Plc - Third-Quarter Earnings
German lotteries and betting company FLUXX AG (ISIN DE000A0JRU67) on Thursday released financial results for the third quarter and first nine months of 2006 revealing that overall revenue rose by 123 percent in the third quarter to 11.8 million euros. Compared with the first nine months of the previous year, revenue is up 114 percent to 35.3 million euros. Marketing and legal consultancy expenses, which were already relatively high in the second quarter, rose further in the third quarter, however, resulting in a net loss of 1.5 million euros before interest and tax in the third quarter. The costs for legal consultancy and lobbying activities in particular continued to rise against the backdrop of an ongoing political and legal debate on the future shape of the German and European gaming market.
FLUXX AG - Third-Quarter Earnings
Internet bingo solutions provider Parlay Entertainment Inc. (PEI.TSXV) has announced record results for the third quarter and nine-month periods ending Sept. 30, 2006. Highlights from the third quarter include a new corporate record for revenue at US$2,647,668, up 20 percent from the prior record for Q2 2006 and up 68 percent from Q3 2005. Highlights for the first nine months of fiscal 2006 include a new corporate record for revenue at $6,864,026, up 64 percent from the prior record for 2005. Parlay remains debt free and the company's cash balance as of Sept. 30, 2006 was $2.9 million, according to the report. As a result of last month's enactment of the Unlawful Internet Gambling Enforcement Act in the United States, Parlay was forced to call off its merger with online gaming software provider Chartwell.
Parlay Entertainment Inc. - Third-Quarter Earnings
Online gaming company 888 (888.L) on Tuesday will announce its key performance indicators for the nine months ending Sept. 30, 2006. CEO John Anderson, COO Gigi Levy and CFO Aviad Kobrine will be hosting an analyst and investor conference call at 9.30 a.m. (GMT) on Monday.