Placing Funds Expansion -- Netplay TV said Dec. 28 that it had raised roughly £1.14 million via a placing of 6.91 million shares at 16.5p per share to fund the expansion of its Live Roulette show into a SuperCasino format and the development of a Bingo show. The London-listed media group also said that the placing proceeds will be used for purpose-built studios for the broadcast of all shows. It added that its issued share capital will increase to about 76.04 million shares following the placing.
Success Story? -- In other financial news, the Scotsman reports Playtech -- due to release its trading update -- has been "tipped to be one of the few success stories of an industry hit hard" by new regulations in the United States and is "expected to close the gap on market leader PartyGaming." Pre-tax profits for the year to the end of December 2007 are expected to total around £33.7 million, the paper says.
Returning Soon -- According to a message on its Web site, Virgin Bets has shut down "for the short term" in anticipation of a new betting product, which the site said is under construction. Virgin Games launched Bets in May 2007. The site was created via a deal with Betfair that covered entertainment, football, cricket, golf, greyhounds, motor sport, rugby and tennis. Simon Burridge, chief executive of Virgin Games, said at the time: "Although entertainment betting is seen as a sideline by most of the traditional bookies, we believe it is a market with huge potential."
In Line -- Sportingbet said in late December that it was trading in line with market expectations." The strong performance outlined in our recent Q1 results continues as we now move into one of the busiest periods for the group," said acting Chairman Sean O'Connor.
Tightening the Noose -- Beginning Jan. 31, China will ban all Web sites that aren't run by the state from broadcasting video or radio over the Internet. Bloomberg reports that in a Dec. 29 written statement, China's State Administration of Radio, Film and Television said applicants for Internet broadcasting licenses must be government-run. "Internet video and audio providers must be resolute in the service of the socialist ideal and of the people," the statement read.
Stock Watch -- One the LSE, Ladbrokes shed 22p to 299.50, PartyGaming dropped 1p to 26.75 while Playtech was up 9.75p to 388.00.