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LACK-LUSTRE GAMING RESULTS FROM MEDIA CORP
Sunday July 10,2011 : Loss in online gaming revenues attributed to industry wide declines in online poker revenues
Media and online gaming company Media Corporation Plc presented its third quarter trading update this week.
The company reported good growth in revenues from its media division, Eyeconomy but declining results from its online gaming arm, Purple Lounge in its third fiscal quarter.
Q3 2011 Key Performance Indicators include:
- Group Revenues of GBP 11.4 million (Q3/2010: GBP 11.8 million)
- Eyeconomy revenues of GBP 1.9 million (Q3/2010: GBP 0.7 million)
- Purple Lounge revenues of GBP 9.5 million (Q3/2010: GBP 11.0 million)
Year to June 30 2011 :
- Group Revenues of GBP 24.7 million (2010: GBP 21.7 million)
- Eyeconomy revenues of GBP 5.1 million (2010: GBP 2.6 million)
- Purple Lounge revenues of GBP 19.5 million (2010: GBP 18.8 million)
- Cash of GBP 2.6 million as at 30th June 2011
The group divulged that the sale of Sport.co.uk brought in GBP 200 000 to the companies coffers while Purple Lounge now has 115 000 registered customers of which 4 500 were acquired during the three month period under review.
Justin Drummond, CEO, Media Corporation, said :"This is another very positive performance for the first three months of the second half of the financial year.
"Purple Lounge has had another good quarter against industry wide declines in online poker revenue. The group is continuing to successfully test a number of innovative online marketing techniques which the Directors believe will significantly increase customer signups, active players and revenues in the coming months.
"The Board remains positive about the outlook for the year and we look forward to providing further updates in the near future."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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