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Netplay Gross bets up by 308 percent to GBP 159 million
UK interactive television, Internet and mobile gambling group NetPlay TV showcased strong first half 2008 results this week, revealing that gross bets soared 308 percent to GBP 159 million (H1:2007 GBP 39 million) The rise was fuelled by a number of acquisitions made by the company up to end June.
The company announced EBITDA of GBP 1 million, a significant improvement on last year's loss in the same period of GBP 900 000.
Operational highlights during the period included the acquisition of online bingo operator Bingos.com for GBP 6.5 million in April, which is in the process of being integrated into a multi-currency, multi-language technical platform that will allow NetPlay to add games easily to its offering and for its customers to move between the mobile, internet and TV platforms.
The company acquired an additional 7 600 mobile quiz subscribers from mobile content provider Rubberduck in March, Sky Channel 848 (now Sky Channel 867) and the customer database of PitchGaming customer database in May, and added web games to LiveRoulette.com in July.
NetPlay signed a 12-month contract with Turner Media Group in May to broadcast its live roulette show on Nuts TV every Friday, Saturday and Sunday on both Freeview and Sky as its contract with Virgin Media came to an end in June. The company is currently in negotiations with a number of broadcasters with a view to extending its TV offering.
Martin Higginson, the executive chairman of the company said that 2008 had thus far been a positive year for the company. "In H1 we generated a profit before tax and, with the acquisition of the Bingos.com business, we have further strengthened our position as the market leader in the converged multi-platform gaming arena. We continue to invest in the business as we strive to deliver the very best player experience," he said.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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