Nambling Notes - 9 May 2007

9 May 2007

Launched -- Isle of Man-based B4Playing has launched its Web site, B4Playing.com, a consumer-focused online gambling information resource. The site will feature a B4Playing client, software designed to assist I-gamers in selecting online casinos and poker rooms in accordance with their interests.

Greener Pastures -- Tipp24 AG has said that Marc Peters, co-founder and longstanding board member, will leave the board at his own request. Peters is "more interested in the entrepreneurial establishment of new business models than in the management of the company of this size," the company said.

New Posts -- eGaming Review reports that former BSkyB head of betting and gaming Nick Rust is to head up Gala Coral. Rust is believed to take up the position in August, the report said.

Reporting -- Unibet has released its interim report, which shows a 9 percent jump in pretax profit to £8.8 million ($17.5 million) from £8 million ($15.9 million). The company said its number of active customers has increased to 239,929 from 190,610. "While competition in the Swedish poker market remains tough following the Swedish monopoly's introduction of online poker during 2006, this was more than offset by strong performance elsewhere in the business," said Unibet CEO Peter Nylander.

Reporting -- World Poker Tour Enterprises (WPTE) has released first quarter results. The company said revenues for the quarter were down 30 percent to $4.5 million from $6.5 million in Q1 2006. It said the loss was primarily a result of it having delivered fewer episodes from its televised poker series. WPTE also reported a net loss of $2.3 million, or $0.11 per fully-diluted share, compared to net income of $3.6 million, or $0.18 per fully-diluted share, in Q1 2006. Highlights included its deal with CryptoLogic, announced in April, to re-launch its online poker room and casino. "The CryptoLogic deal is a positive step forward for our online gaming division as it ensures that starting with day one of our online gaming re-launch there will be ample liquidity available for our customers on a stable and proven platform," said WPTE CEO Steve Lipscomb.

Denied -- Finnish daily Helsingin Sanomat reports that Finland's Supreme Administrative Court (KHO) has--for the second time--denied Ladbrokes' application for licensure and permission to install betting and gaming operations in the country. The paper says the KHO decision was made in accordance with the 2002 Act on Gaming, which stipulates that "only one such license can be in effect at any one time." Currently, the license is held by Oy Veikkaus Ab, the state-owned national lottery and gaming company.

Stealthily Opening -- The Financial Times carries a report on China's hazy, burgeoning I-lotteries market. Ladbrokes, Scientific Games and International Game Technology have all announced China-focused lottery ventures this year, but, the paper says, profits are far from certain for them or for a "host of lesser-known companies." The FT quotes Li Gang, expert on the Chinese gaming sector at Shanghai Normal University, as saying: "The basic government position is that the lottery sector is not open to direct operations by foreign companies, but in fact is being stealthily opened."

Renewed Bid Talk -- Shares in Ladbrokes jumped 3.6 percent today on renewed market talk of a possible bid from private equity group Apax at 440 pence, reports Reuters. The bid talk follows similar market chatter around the company's shares late last month. Ladbrokes has yet to comment.

Stock Watch -- On the LSE today, 888 is up 3.75p to 128.25, Ladbrokes is up 18p to 431.50 and William Hill is up 17p to 643.50.