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Shoal Games released its Q4-2014 results

Friday February 20,2015 :  SOCIAL GAMING FIRM RELEASES Q4-2014 RESULTS
 
Former Bingo.com owner now titled Shoal Games...but the losses persist.
 
Former Bingo.com owner, and now social and mobile gaming-focused Shoal Games released its Q4-2014 results this week, revealing new details on the disposal of Bingo.com to Unibet.
 
CEO Jason Williams said: "We successfully divested the company of the domain name www.bingo.com and the associated online gambling business in exchange for $2,000,000 cash and the return of 15,000,000 of Shoal Games' common shares which have since been cancelled.”
 
The total value of the sale was $8 million.
 
"This transaction allowed us to successfully exit the online gambling industry which we believe to be mature and facing increasing threats from taxation, regulation, and competition."
 
Williams revealed that the company's social game Trophy Bingo is currently live in the Apple App Store and Google Play Store, but revenues have been slow despite strong "performance metrics." The next version of the game is currently in development and is scheduled for release in H2-2015, supported by a major marketing push.
 
Williams claims that Trophy Bingo's player retention figures are among the best in the business, with high free player to premium player conversion and average revenue per daily active user performance improving.
 
Other features of the performance report included:
 
* Total revenue from continuing operations increased 23 percent y-o-y to $32,470 for the year ended
December 31, 2014;
 
* Revenue from Trophy Bingo increased to almost ten fold from a low base to $9,815 for the year ended December 31, 2014 ($1,265 for the same period in the prior year.)
 
* Advertising Revenue declined 10 percent to $22,655 for the year ended December 31, 2014;
 
* Sales and marketing expenses from continuing operations were $247,258 for the year, an increase of 25 percent y-o-y due to a rise in test marketing expenses for the soft launch of Trophy Bingo in the Google play and iOS stores.
 
* Net loss after taxation from continuing operations for the twelve months ended December 31, 2014, amounted to $2,736,544, a loss of ($0.04) per share, compared to a net loss from continuing operations of $755,182 or ($0.01) per share in the twelve months ending December 31, 2013.
 
* Gaming revenue from discontinued operations decreased 12 percent y-o-y to $1,684,047 as player activity fell off.
 
* Sales and marketing expenses from discontinued operations were $628,029 for the year ended December 31, 2014, a decrease of 68 percent over expenses of $1,944,982 for the year ended December 31, 2013 as marketing campaigns were reduced.
 
* Net income after taxation for the twelve months ended December 31, 2014, amounted to $5,062,233, compared to a net loss of ($787,863) in the twelve months ending December 31, 2013.
 
* The company had cash of $2,876,386 and working capital of $2,856,230 at December 31, 2014.



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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

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