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Gameaccount shows 123 percent increase in 2013 earnings

Wednesday April 30,2014 : GAMEACCOUNT NETWORK DELIVERS STRONG 2013 RESULTS
 
2013 a transformational year for company, says chief executive
 
B2B software and online gaming content provider GameAccount Network revealed a substantial rise of 123 percent in Net Revenue and a solid increase in EBITDA during its FY2013 report.
 
The company had a strong year, launching into the newly regulated New Jersey market and clinching deals with Foxwoods, KONAMI Gaming, Multimedia Games, Reel Time Gaming and Gamomat
 
Key financial highlights include:
 
•   Net Revenue increased by 123 percent to GBP 12.3 million (2012: GBP 5.5 million)
 
•   Clean Ebitda1 increased by GBP 3.8m to GBP 4.1 million (2012: GBP 0.3 million)
 
•   Profit before tax for the year increased to GBP 1.6 million (2012: Loss of GBP 1.0 million)
 
•   Earnings per share increased to GBP 0.04 (2012: GBP 0.01)
 
•   Placing and admission to AIM and ESM raised GBP 15 million to accelerate growth
 
•   Strong balance sheet: cash and cash equivalents increased to GBP 16.9 million (2012: GBP 1.7 million)
 
GAN launched its Simulated Gaming product in 2013 designed to take US land-based casino operators online in anticipation of real-money internet gaming regulation.  Foxwoods Resort Casino was the first to launch with the product earlier this year and GAN announced partnerships this week with two other operators Osage Casinos in Oklahoma and Empire City Casino in New York.
 
Dermot Smurfit, chief executive officer of GameAccount Network, said:
 
“We have made real progress in delivering on our strategic initiative to develop sustainable higher margin revenue streams while positioning the Group for growth in regulating markets.
 
“We also successfully raised GBP 15 million through an institutional placing in November 2013 and listed on the AIM and ESM markets of the London and Irish Stock Exchanges. We have a strong balance sheet with almost GBP 17 million in liquidity to accelerate our growth in 2014 and beyond.
 
"We continue to invest significantly in recruitment to support increased product development and sales & marketing services capability in both the European and United States regulated markets. During 2013 the Group invested heavily in product development resulting in enhanced mobile and reporting capability."
 
Looking ahead, Smurfit believes the company is well placed in 2014 to deliver further growth in its core European content distribution business with new game titles for Konami Gaming, Multimedia Games, Reel Time Gaming and Gamomat coming to market in 2014 in both desktop and mobile formats.”



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

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.

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