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Bingostar Failure Hurts Netplays Earnings
Losses double as interactive television and internet gambling company describes project as ‘costly’.
NetplayTV released its interims this week, reporting a wider six-month pre-tax loss of GBP 7.9 million compared with GBP 3.2 million last year.
The losses came despite total revenue growth for the six months ending 30 June 2010 improving by 21 percent to GBP 11.31 million from a re-stated GBP 9.34 million in the comparable period.
The costly failure of a six month trial of the Bingo Stars show on ITV was a major contributor to the losses, management reported, with chairman Clive Jones observing that the new soft gaming format “did not perform in line with our expectations and has been a major cost to the company.”
NetPlay issued a profit warning in June (see previous InfoPowa report) after Bingo Stars failed to deliver anticipated revenues. EBITDA reached GBP 740 000 in the first half of 2010, compared GBP 120 000 in the same period last year.
CEO Martin Higginson revealed that the company had let go significant numbers of staff following the termination of Bingo Stars, and that some non-core business contracts had been halted.
“The ITV trial comes to an end during November 2010, and our discussions with ITV are ongoing, as is the restructuring of our business,” said Higginson.
Gambling News :
Alegriabet Finally Launches -
Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports
International Table Tennis Federation in deal with Sportradar. -
The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.
NBA odds on Thunder vs. Pacers Game? -
This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.
2 New Christmas Slots For Microgaming -
Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.
SportsBetting Supreme Court Showdown -
Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)
NBA Odds: Heat Can Burn Cavaliers in Cleveland -
The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
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