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NetPlay Tv Profitable Again
Monday August 1, 2011 : Results attributed to company restructuring and growth of core live casino
Following an extensive restructuring process, UK-based interactive gaming company NetPlay TV plc has announced a return to profitability in the release of its interim results for the six months ending 30 June 2011.
NetPlay TV operates a number of interactive gaming services under an Alderney gaming license, including Supercasino.com, ChallengeJackpot.com and Bingos.co.uk on a variety of platforms such as TV, Internet and mobile.
Financial highlights for the period include:
- Total revenues in line at GBP 10.59 million (H1/2010: : GBP 10.59 million)
- EBITDA of GBP 1.69 million (H1/2010: GBP -0.84 million)
- Profit before tax of GBP 0.37 million (H1/2010: GBP -9.8 million)
- Positive cash flow during the period of GBP 0.46 million (H1/2010: GBP -5.29 million)
Casino Key Performance Indicators
- Total Casino revenues up 10.7 percent to GBP 9.81million (H1/2010: : GBP 8.86 million)
- Active casino players up 13.9 percent to 35,689 (H1/2010: 31,338)
- New casino signups up 20.4 percent to 40,134 (H1/2010: 33,345)
Clive Jones, Non-executive chairman, NetPlay TV said:
“We are very pleased to report a strong first half. The return to profitability, cash generation and growth in our KPI’s are a clear illustration of the benefits the restructuring has brought, and is a testament to the strength of the team that we now have in place.
“We are looking to the future with confidence and continue to explore opportunities to leverage our industry expertise and TV production facilities to facilitate further expansion in both the UK and overseas.”
Looking forward, Charles Butler, chief executive officer, NetPlay TV said:
"The Group continues to see the benefits of the restructuring and focus on the core live casino product with strong KPIs and continued investment in effective marketing.
"We are continuing to see further benefits from the iPhone application and look forward to the further customer acquisitions that our new iPad application will afford.
"With the UK casino business now performing well, the Group is exploring opportunities for geographical expansion in Italy and potentially other territories such as Spain and the Netherlands pending legislation and a workable tax regime."
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It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
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