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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.”



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NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

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NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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