REPORTING
With
Neovia Financial's revenue down 3 percent in the first quarter,
Dale P. Johnson, the payment solution provider's chairman, called trading for the period "disappointing."
"(It) reflects a weakening trend in Europe due to an increasingly competitive market, challenging economic conditions, volatile current markets and limitations in new product introductions until Newteller (the company’s new technology platform) is launched in Q3 2009," he said in a Thursday trading update.
Neovia posted $16.4 million in revenue, which was down $600,000 from its earnings during the same period last year.
The group reported a 4 percent decline in average daily receipts when compared to 2008's fourth quarter and an 11 percent year-over-year drop. Active e-wallet users were down 5 percent quarter over quarter.
However, operations income for the first quarter was up 29 percent year-over-year to $3.1 million.
"While the board remains confident about the group’s prospects, the overarching themes for 2009 will be leveraging high potential initiatives, cost control and prudent cash management," Mr. Johnson added.
SIGNING
Gaming Technology Solutions, an online gaming solutions provider, has inked a games deal with BaddaMedia Inc. , an I-gaming software supplier.
Under the agreement, Gaming Technology Solutions will integrate BaddaMedia games on the GTS Enhanced Gaming Engine platform, which will give operators using the platform access to the new content, the group said.
NEW HIRES
Youbet.com Inc. has brought on two new vice presidents, the parimutuel horse racing content provider announced on Thursday.
Mark Midland, a former vice president of racing operations at Harrah’s Louisiana Downs, has been appointed as the group's vice president of racing and business development. He also spent eight years as the vice president of corporate marketing at Churchill Downs.
In addition to Mr. Midland, Youbet said it has hired Rey del Valle as vice president of strategy and planning. Prior to his new post, Mr. del Valle served as the vice president of finance at the Disney-ABC Cable Networks Group.
FORESEEING
Claire Petulengro, a British astrologer and newspaper columnist, has signed on to host an hour-long bingo show for Gala TV, a bingo-dedicated British Sky Broadcasting Group channel.
Beginning on Friday, Ms. Petulengro will co-host "Horoscope Bingo," a show that includes lucky bingo tips, eight bingo games, which can be played remotely via Gala Bingo's Web site, and nightly competitions.
Gala TV, which is and operated by a subsidiary of the Gala Coral Group, believes the syndicated columnist "will be a hit."