Nambling Notes | Aug. 18, 2008
ON THE RISE Net Entertainment N.E. A.B. had good news to tell investors this week -- its revenues rose 44 percent during the first six months and second-quarter results showed an after-tax rise of 61 percent.
The Sweden-based makers of CasinoModule, CasinoCafe and Turkish Poker reported second-quarter revenues of 48 million Swedish kronor. The successful period comes after eight new license agreements for CasinoModule were signed.
“Our efforts to address new market segments and Tier 1 operators have proven highly productive -- largely due to our strong, competitive product portfolio," said Johan Öhman, chief executive of Net Entertainment, in a prepared statement.
“Development activities have progressed well, and the product launch is scheduled for the third quarter," he continued. "A more generous product portfolio will enable the company to target a broader market, which is why we have also accelerated the development of soft games, a product that is closely related to casino games."
LOOKING UP Bingo.com Ltd., the creators of online community Bingo.com, have reported a 5 percent increase in second-quarter results.
Total revenue for the Vancouver company came in at $1.4 million, up 5 percent against the first quarter of 2008. The company’s net loss was down 10 percent at $235,188 from $262,543 during the same period.
"In the second quarter of 2008, Bingo.com made some important strides towards returning to profitability," said Tyron M. Williams, the company's chief executive, in a prepared statement. "Despite not yet acquiring licensing status enabling us to advertise in the U.K., we acquired thousands of new real-money players, increased our revenues, decreased our net loss, and further developed the entertainment available at Bingo.com.”
DAILY DEALS On Friday, Sportech struck a deal with the Daily Telegraph, and now the football and e-gaming company has announced a similar distribution deal with The Daily Mail.
Under the partnership, The Daily Mail’s Web site will tout to its users two new products from The New Football Pools gaming suite -- Premier 10 and Footy 15. The agreement also includes advertising and marketing initiatives for online and print.
"This deal takes us another step closer to realizing our objective of reinvigorating the football pools business by positioning our games in front of a whole new potential customer base,” said Ian Penrose, chief executive of Sportech, in a prepared statement. “The response to the relaunch has been very positive and we look forward to the start of the Premier League season with confidence."