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MIRADA GAMING PROFITS UP

The London listed online interactive media and games group, Mirada Gaming plc turned in a solid performance over the six months to 30 September 2008, resleasing its results this week.
 
Highlights included:
 
* Successful restructuring of enlarged group and renewed strategy
* Move to new UK headquarters complete with state-of-the-art equipment and custom-built studios
* New commercial offices opened in Milan and Montevideo to accommodate growing international client partnerships
* New relationship with ITV - successful launch of Bingo Night Live on ITV1
* Continued progress in primary markets of UK and Spain with new client wins and product development
* New contract win for major cable operator in the Middle East
* Effective cost reduction programme and restructuring:
* Other administrative expenses reduced to GBP 3 604 000 (2007: GBP 4 373 000) 

Gross profit increased to GBP 2 801 000 (2007: GBP 2 252 000) and improved trading reduced the loss before interest, tax, depreciation, amortisation, and restructuring to GBP 525 000 (2007: GBP1 632 000)
 
Net gaming income however fell to GBP278 000, from GBP489 000 a year ago, which the company said was due to the adverse impact of a GBP100 000 winner in one of the interactive games and the group’s new focus on its B2B gaming business.
 
Jose Luis Vazquez, Chief Executive Officer of Mirada, commented: "We have finally integrated our operational and commercial teams into a global organisation, and the expansion of the Media business unit is very promising. Our gaming division is launching innovative new products and forging new partnerships, placing us at the forefront of the interactive media sector.
 
"Mirada's positive new developments as well as increasing international reach have been achieved while successfully implementing a company restructuring and cost reduction plan, which has led to significant savings for the Group.
 
"We have exciting new opportunities to pursue in Asia, Europe, North America and South America, and we expect to report positive news arising from these during the coming months."
 
The company benefitted especially from the inclusion of results from Fresh Interactive Technologies, the Spanish technology firm Mirada merged with earlier this year.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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