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Neteller Growth

The Isle of Man based e-cash processor Neteller plc has issued a trading update for its third quarter to September 30, highlighting continued growth, with revenue up 27 percent from Q3 2007, at $13 million.
 
European revenue (including subsidiary Netbanx) was $12.1 million, an increase of 20 percent from Q3 2007; Asia Pacific (including Netbanx Asia) grew 61 percent to $4.9 million over the same period.
 
Other highlights include:
 
* Active e-wallet users totalled 97 447 in Q3 2008, up 3 percent from Q3 2007.
 
* E-wallet revenue per active e-wallet user continued to improve, reaching $134 in Q3 2008, up 23 percent from $109 in Q3 2007 and up 3 percent from Q2 2008.
 
* Average daily sign ups and average daily receipts in Q3 2008 showed growth of 3 percent and 31 percent respectively from Q3 2007.
 
* Gross margin of 60 percent (Q2 2008: 61 percent) and operating income of $3.8 million (Q3 2007: $2.7 million).
 
* Solid balance sheet at 30 September 2008 with $89.4 million cash and cash equivalents.
 
Operating highlights included the launch of the group's new Net+ prepaid physical and virtual cards to existing e-wallet users, and the proposed renaming of the group to Neovia Financial Plc subject to shareholder approval.
 
Ron Martin, President & CEO, commented: “Despite the challenging economic environment, the Group has continued to show underlying growth in its core e-wallet business both in Europe and Asia Pacific. 
 
"Our efforts to target key merchants with our integrated Payment Suite are beginning to bear fruit and we have improved our consumer offering with further enhancements to the e-wallet and the launch of our Net+ prepaid cards.  The current market conditions are producing a number of interesting investment opportunities which we are actively pursuing and we hope to provide further updates in due course.   We anticipate the core business will continue growing into the fourth quarter, and the Board believes the Group is on track to meet current market expectations for the full year.”



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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