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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 :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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