Nambling Notes - Feb. 28, 2007

28 February 2007

Solid FY '06 for Playtech -- Playtech's full year financials evinced a significant jump in total annual revenue (89 percent)--$90.1 million--against last year's figure. Casino (81 percent) and poker (309 percent) revenues also showed marked growth, totaling $77.2 million and $10.9 million respectively. "[Playtech's] broad international portfolio of clients, especially in Asia and Europe, meant that the impact of the prompt withdrawal by its licensees from the U.S. market was greatly reduced," said company chairman Roger Withers.

Sportingbet Reports Mixed Results -- Sportingbet's interim results revealed pre-tax losses of £243 million ($476.7 million) in the six months to the end of January. However, the company reported a 54 percent increase in Q2 profits, and said its third quarter has started well.

Appointed -- Malaysia-based casino group Genting has appointed Andrew MacDonald, founder of casino management portal urbino.net, as executive vice president of gaming.

Inked -- Swedish gaming group 24hPoker today announced an agreement with Victor Chandler (VC), which sees VC's Hebrew-language online poker clientele migrate to the 24hPoker network.

Turkish Angst -- Scandinavia-focused operator Betsson today released a prepared statement noting that Turkish legislation targeting I-gaming is due to be effected "within a short time." The company said that the law is aimed at protecting IDDAA, the partially state-owned operator, moreover, that the law contravenes existing agreements between Turkey and the European Union (EU), to which Turkey is seeking membership.

Networking -- Onlinecasinonews.com reports Sweden-based 360 Holding, which operates heypoker.com, finansbet.com and 360bet.com, will be switching networks from B2B to Ongame.

UKGC Reveals New Study -- According to new statistics released by the U.K. Gambling Commission, an estimated 8 percent of adults took part in at least one form of remote gambling last month.

Discontinued? -- Casino City Times on Monday reported that I-gamers will no longer be able to fund their accounts via the "virtual gift card" service from giftcards.com. The news source said that a giftcards.com spokesman refused to say if the discontinuation of the service was related to online gambling.

Stock Watch -- Shares in London-listed PartyGaming on Monday fell 3.75p (9.4 percent) after unsourced media reports surfaced yesterday, alleging it had closed its Web site to French residents on Feb. 23. Tabcorp shares also hit a three-month low on the ASX, closing down A$0.16 at A$16.15.