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Devilfish Change to Entraction see improvement starting
Devilfish Gaming plc, the London-listed online poker operation founded by British poker ace Dave "Devilfish" Ulliott, has reported poor maiden results but remains optimistic for the future following a switch to Entraction software.
Maiden results for the year to end to the June 2008 saw the company post a pre-tax loss of GBP 424 414 on a gross turnover of GBP 21 763. In a statement this week, the company said the loss reflected the significant expense of preparing for flotation on the London stock exchange and building the infrastructure for further growth.
On a more positive note, the statement noted that H.2 2008 had been more encouraging with average daily net gaming revenue rising from Euro 455 to Euro 1 512 by September 2008.
Highlights of the corporate year included admission to the PLUS market, a switch in software provider and network from UltimateBet to Entraction for Devilfishpoker.com and continued brand and marketing affiliate network development.
Paul Barnes, CEO, commented: "This has been an exciting year for Devilfish Gaming. Since listing on the PLUS market we have relaunched Devilfishpoker.com on the established Entraction network allowing us to target the UK and other markets. The Devilfish brand has helped strengthen our position as a multi-channel online gaming company.
"We look forward to adding online bingo to our offering later in 2008 with the option of a sportsbook gaming product in the future."
The company was incorporated on 16 October 2007 and on 12 November 2007 purchased 100 percent of the share capital of Devil Fish Poker Limited, a private company which was incorporated on 5 August 2005 and began trading in December 2005.
On 5 March 2008 the company issued 12 000 000 ordinary shares at 10p per share raising GBP 1,2 million before expenses (see previous InfoPowa report). The Placing raised approximately GBP1,03 million net of expenses to be used to fund the existing business, and its expansion.
On 18 March 2008 the deal with Entraction was announced, providing Devilfish Gaming with two poker rooms as well as two online casinos offering a comprehensive range of popular gaming products. With Entraction's Malta licensing, Devilfish can gain access to UK advertising, one of its primary markets. The migration from UltimateBet network to Entraction was completed by May 19 2008 and has thus far resulted in significant increases in revenues.
Devilfish.com now offers over 170 different Poker and Casino games including the most popular Poker game variations and tournaments, Caribbean Stud, several table games such as Roulette and Blackjack, as well as a wide variety of slots with progressive jackpot, giving the on-line gamer a wide range of product choice.
"We have also seen strong growth in new player registrations during this period," said a company spokesman. "We expect strong growth to continue for the foreseeable future, especially as some of our marketing and brand building activities are only now coming on stream."
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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