Reporting -- Inspired Gaming released interim results this morning, which show a 29 percent increase in revenues to £34.6 million ($69.2 million) for the six months ending April 14, 2007. EBITDA was up 42 percent to £8.4 million ($16.8 million) while net debt for the period, £51.6 million ($103.2 million), was down from £72.2 million ($144.4 million) at the end of FY 06. The company said that, in March, it had received a $29.4 million strategic investment by Iceland-based investment company FL Group. Operational highlights included deals with Codere and Betfred as well as the creation of an international sales division.
Inked -- Mobile gaming solutions provider Spin3 has agreed to supply 777Mobile with its GameWire wireless casino system. "777Mobile's selection of Spin3's GameWire over a competing prominent player in mobile gaming is a great endorsement of the robustness of our solution," said Spin3 chief executive Matti Zinder.
Just a Note? -- The Independent reports on Monday's news regarding PartyGaming, whose shares were resuscitated by a favorable research note from Deutsche Bank. "After a couple of months of a steadily retreating share price . . . PartyGaming was boosted by the broker Deutsche Bank as it upgraded its stance on the shares from 'neutral' to 'buy,' sending them 1p better to 40," the paper says. "It told clients that uncertainty surrounding [Party's] strategy has now been clarified and there could be room for further upside to its revise 45p-per-share target price."
Just THE Note? -- The Deutsche Bank note also suggests that given Party's present share-price levels, the company could become an "easily palatable bolt-on" contingent on the outcome of its discussions with the U.S. Justice Department. The note adds that large, U.S.-based gaming companies like Las Vegas Sands and MGM may well consider Party an attractive acquisition target. Google and eBay were also included on the list of potential suitors.
Stock Watch -- I-gaming stocks lost momentum across the LSE today, with PartyGaming down 0.25p to 39.75, Playtech down 5.50p to 390.75 and 888 down 2.25p to 118.00. In Vienna, shares in bwin posted the sharpest loss on the ATX, closing down 3.49 percent at 25.42 euros. Market observers pointed out that while the decline was in line with the losses posted by other gaming sector shares, the company's well established volatility helped push its percentage decline well beyond that of 888, Sportingbet or Party.