Nambling Notes - March 12, 2007

12 March 2007

Completed -- The migration of the Tribeca and Tain poker networks onto the Playtech network has been completed a month ahead of management expectations, the company said in a prepared statement today. Since the non-U.S. businesses of the Tribeca and Tain operations were acquired in November 2006, the number of concurrent players during peak time has increased from 8,400 to over 20,000, it said. Playtech added that it has been successful in cross-selling casino games to a number of its licensees, which has yielded additional revenue streams.

Renewed -- Fun Technologies subsidiary WorldWinner has renewed its agreement with Electronic Arts to provide cash tournaments on gaming portal Pogo.com. The agreement sees WorldWinner develop a customized cash site where Pogo.com players can compete against other players on the WorldWinner network.

Re-branded -- The Crown Bingo Network has re-branded itself as the Better Bingo Network.

Greener Pastures -- The Times reports that Ladbrokes' financial director Rosemary Thorne will be leaving the company at month's end with a £500,000 ($966,218) pay-off. "Ladbrokes isn't saying it, but she was a square peg in a round hole," the paper said. The Times also reports that Sportingbet will release its full year results on Friday.

Relaxing? -- The Financial Times reports on the "delicate" position I-gaming holds in the eyes of the Chinese government, though the paper quotes Teddy Cheng, chairman and the major shareholder of Horizon Investment Group Ltd., as saying "I think the government is starting to relax a little bit."

Cleared -- The Guardian reports that ITV Play has been cleared by parent company ITV's review of its interactive services. ITV suspended all interactive services last week "amid allegations of irregularities with premium-rate phone lines." The company said that the first stage of the review had been conducted by Deloitte and that both ITV Play and daily show "This Morning" were operating in accordance with the Icstis and Ofcom codes.

Stock Watch -- I-gaming stocks were quiet today on the LSE, with PartyGaming down 5.45 percent to 39p and Sportingbet falling 4.13 percent to 58. Shares in Vienna-listed bwin have finally cooled off, closing down 2.61 percent at 33.60 euros.