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Bad Year For Neovia - Neteller

3/18/10 - The Internet e-cash processing group Neovia plc has released a lacklustre set of full year results for the period to December 31st 2009.
The financial report shows group revenue declining by 15 percent to $64.5 million; fee revenue down 10 percent to $62.9 million and gross margin reduced to 54.6 percent (FY 2008: 61.8 percent.
The group EBITDA came in at $8 million in 2009 (2008: $16.0 million), and a loss before tax of $1.7 million (2008: profit $6.4 milion) was recorded.  Total Group cash as the financial year ended was $73.5 million (2008: $82.3 million).
Operationally, the company increased its active e-wallet users in Q4 to almost 100 000 (Q4 2008: 97 6730, with fee revenue per active e-wallet user $116 for 2009 (2008: $128). Average daily sign ups were 1 048 for 2009 (2008: 981); and average daily receipts were improved at $488 641 for 2009 (2008: $457 442).
Neovia chairman Dale Johnson commented: “Following a transitional year characterised by progress in dealing with internal and external challenges, including weaker market conditions, the Board has renewed confidence in its updated business strategy and executive leadership to deliver significantly improved shareholder value in 2010 and beyond.
"The fourth quarter of 2009 saw stronger performance for both the e-wallet and Netbanx businesses compared to the third quarter, and revenue for the first two months of 2010 was in line with management’s expectations. The Board continues to be optimistic about the outlook for Neovia and remains confident about the group’s prospects going forward with its adoption of a renewed strategy for growth.”

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Gambling News :

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Time Running Our For Pennsylvanian online gambling - Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.

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FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

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Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

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