A Punter's Quarter -- Unibet has released what it terms "unsatisfactory" second-quarter results, which show sports-betting margins down after a "punter's quarter." Shares in the company fell by as much as 16 percent after it reported that Q2 profits dropped roughly 60 percent from £5.6 million to £1.7 million. Gross winning revenues also fell to £16.5 million from £18.4 million during the previous-year period. "Our expectation is that this situation will stabilize during the second half of 2007," said Unibet chief executive Peter Nylander. "Management has during the quarter initiated a number of new marketing initiatives, strengthened the regional market leadership and started several process and productivity improvements."
More Debt for IGH -- Interactive Gaming Holdings (IGH) has agreed to an interim funding facility of £400,000, its second such facility this year, with General Capital Venture Finance Ltd. (GCVF). In May, the Malta-based operator, which runs Heathrons and Premierbet, announced it had secured a £600,000 credit facility with GCVF to fund its working capital requirements.
Interims from Boss -- Boss Media has released its interim report, which shows sales for the first half up 5 percent to $23.2 million. Royalty revenues were down 7 percent to $16.6 million, it said, though it projected that net sales for the year will remain even with figures from 2006. The company also announced a deal to supply Paddy Power with an online, multi-lingual casino platform.
Purnell Appoints new Gambling Commission Chair -- The U.K. Department for Culture, Media and Sport (DCMS) has announced that National Lottery commissioner Brian Pomeroy will replace Peter Dean as Chair of the Gambling Commission, with effect from Jan. 1, 2008. The DCMS has also appointed Peter Teague, formerly of U.K. communications industry regulator Ofcom, as a commissioner. Teague will take up his post Sept. 1, 2007, the day on which the U.K. Gambling Act is set to be effected. "The Gambling Commission is a tough new regulator with stringent powers that allow them to take decisive action against operators who fail to meet the high standards required by the Gambling Act," said U.K. culture secretary James Purnell.
Selling Points -- Online casino affiliate network BrightShare has hired marketeers Candice Evans, Shelly Shalmoni and Gabriel Simmons in an effort to strengthen its core management team.
Canbet Switches to Microgaming -- International All Sports-operated Canbet has joined the Microgaming poker network, having left its current software supplier, Ongame.
$70 Million and Counting -- According to a report carried by USA Today, Neteller's U.S. customers have, since July 30, withdrawn $70 million of the $94 million the company has agreed to refund.
Stock Watch -- On the LSE, 888 was up 2p to 111, PartyGaming was down 0.75p to 25--its lowest recorded share price this year--and William Hill was down 4p to 599. On the Wiener Borse, bwin was down 0.03 euros to 18.78 euros. On the Stockholmsborsen, Unibet was down SEK 33.50 to 191.50.