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Australian Gambling Firm Two Way 3rd Q Earnings
10/30/09 - Two Way Limited, an Australian interactive television technology firm, has reported a positive quarter 3 with receipts from customers rising 17 percent to A$327 000 compared with Q2 2009.
Two Way’s wagering service, known as TAB Active, is available to Foxtel and Optus TV subscribers in two of the country’s major states – Victoria and New South Wales. By the end of September 2009, over 16 000 Tabcorp account holders had placed at least one bet via the service, a 14 percent increase for the quarter.
Management said that almost 4.8 million bets have now been placed in total with more than 1.2 million in the September '09 quarter alone, a 21 percent increase on the previous quarter. Average number of bets per day, at 13 000, grew by 19 percent, with an average bet size over the period of A$8.32.
However, Foxtel terminated its arrangement with Two Way in June '09, resulting in a decline of 29 percent on the previous quarter. Ameliorating this to some extent is the news that receipts from Sky New Zealand games were up by 15 percent after a successful telemarketing campaign which saw almost 2 500 new subscriptions.
Further marketing initiatives are planned for the games services on both Sky New Zealand and Austar, a spokesman revealed.
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