Three Floaters
Isle of Man-based Crystal Gaming Group has reportedly appointed investment firm Seymour Pierce to serve as advisors to a potential float on the Alternative Investment Market (AIM) of the London Stock Exchange. The company is expected to seek a valuation of £140 million by attempting to sell £47 million worth of shares. Crystal Gaming's owner, Warren Cloud, will retain a 45 percent stake in the company; the firm's management will not sell any shares. The company, which targets the U.S. and South African markets, will use money earned through a public offering to develop an online poker business. Crystal Gaming reported £20.4 million in pre-tax profit during the 12-month period ended June 2005.
The Independent reported Sunday that GameAccount Global Limited, a company with reported annual revenues of £2 million, is expecting to float on the AIM by Christmas. The owners expect the company to attain a valuation of around £100. Meanwhile, Internet gaming group Trident Gaming is planning to list on the AIM with a valuation of up to £100 million.
Rumored Floater
Rumors of online casino turnkey company Playtech going public on the London Stock Exchange in November continue to circulate even though a spokesperson for Playtech claimed there are no plans for an IPO before the end of 2005. An Israeli press article claims that a Playtech float could exceed the £195 million market cap achieved by veteran turnkey provider CryptoLogic Inc. (CRY.TO).
Reports
Gaming solutions company eBet Ltd (EBT.AX) released its financial results for the full year to June 30, 2005. Excluding U.S. linked-jackpot operations, FY2005 EBITDA was $3.6 million, with NPBT of $1.1 million on revenue of $15.8 million. Total gaming systems revenue increased from $14.6 million in 2004 to $15.3 million in 2005 (an increase of 4 percent). eBet incurred and expensed significant establishment and operational costs associated with its U.S. links, and revenue from the business did not begin until late February. Accordingly, the U.S. links business contributed FY2005 EBITDA of $1.56 million with NPBT of $1.70 million on revenue of $918,000. This brought the consolidated group result for FY2005 to an EBITDA of $2.05 million and NPBT of $606,000 on consolidated revenue of $16.83 million.
eBet Ltd - Annual Report
International gaming company Intralot announced its half-year results, reporting that consolidated revenues reached €232.1million, a 54.5 percent increase compared to the same period in 2004. Revenues from the company's international subsidiaries amounted to €172.5 million, a 74.3 percent contribution to six-month consolidated sales, compared to €66.5 million, a 44.4 percent contribution in the first half of '04. Its EBITDA increased by 31.5 percent to €84.0 million, compared to the same period last year. Earnings before taxes reached €84.9 million, compared to €61.5 million in the first half of '04, an increase of 38.1 percent year-on-year. EBT margin settled at 36.6 percent for the first half of '05. Earnings after taxes and after minorities increased by 8.4 percent year-on-year to €41million from €37.9 million in 2004.
Intralot - Half-Year Result
Australian gaming technologies company Star Games Limited (SGS) reports record results in its 2005 annual report, including a profit before tax at $8.7 million and a net profit after tax at $6 million. Other financial highlights include sales revenues up to $71.2 million and export revenues up 38 percent. Dividends went up 11 percent to $0.05, and Vegas Star and Rapid table games export sales are up 197 percent.
Star Games- Annual Report