Reporting -- 888 has released full year results, which show record earnings despite the cessation of its U.S.-facing operation, which accounted for 55 percent of its business. Pretax profits jumped 34 percent to $90.5 million from $67.4 million in 2005, while net gaming revenue rose 7 percent to $289 million against $271 million the previous year. The company said that, in Q1 2007, net gaming revenues have grown by 16 percent from Q4 2006, spurred in-part by the rollout of new products. "Given this start to 2007, the release of new products, our bingo acquisition and our clear business strategy, we are confident of delivering future growth in 2007," said 888 CEO Gigi Levy.
Stepping In -- Various news sources have reported that the European Union has thrown its weight behind Unibet's cycling team, which faces exclusion from the Tour de France. The Amaury Sports Organization (ASO), which organizes the Tour, has refused the Belgian-Swedish team entrance because French law prohibits foreign betting companies from advertising in the country. "The whole matter is violating the rules of the internal market," European Commission spokesman Oliver Drewes told the AP today. "No team can be excluded from another country just because you don't like the sponsor." Drewes added that it was "unacceptable" that the race organizers plan to impose French regulations on Belgium and Britain, where part of the Tour is scheduled to run this year.
Side-Stepping -- Payments processor Citadel has said that one of its financial transaction processors has frozen funds belonging to "some of Citadel's merchants." The company did not specify as to which. "[Citadel] is working diligently through its legal counsel to resolve the issue," it said.
Vacancy -- Interactive Systems Worldwide Inc. (ISWI) has announced that Harold Rapaport, a company director since 1995, recently passed away. "Harold has provided valuable input and counsel to our company during the past 12 years and he will be greatly missed," said ISWI CEO Bernard Albanese. The company is seeking a "qualified, independent individual" to serve as an outside director and to replace Rapaport as a member of its audit committee.
Launched -- Palace Group subsidiary Zero36 has launched its real-money mobile casino service for O2 i-mode users in the United Kingdom. The service offers various casino games from Microgaming.
Forward-Looking -- Arena Leisure said attendance in the first part of 2007 has remained softer than expected but added that prospects for the summer months are "encouraging." In a prepared statement from the company's annual general meeting, it said its development projects continue to progress well. Arena said the redevelopment of Doncaster Racecourse is on schedule, and should be ready for a successful staging of the Ladbrokes St. Leger Festival in September 2007.
Quoteworthy -- "I find with a lot of liberals the very action of gambling is like conservatives' reaction to pornography--they just don't approve of it. They don't think it's a good thing to do; therefore, they feel entitled to legally prevent other people from doing it. Then there's also the argument, which I'm very dubious about, 'Well, we must protect the poor people.' I'm dubious because much of the argument that comes from my conservative friends about protecting poor people comes from people who are not interested in protecting poor people from anything else."
- Taken from Friday's conversation between Rep. Barney Frank and host Robert Siegel on NPR's All Things Considered.
Stock Watch -- On the LSE today, CryptoLogic is up 20p to 1,520, after jumping 9.1 percent (125p) on Friday.