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NETPLAYTV TRADING UPDATE POSTED

Saturday October 18,2014 : NETPLAYTV TRADING UPDATE POSTED
 
Heavy marketing spend brings in the punters but could adversely impact FY results.
 
Online and interactive television gambling group NetPlayTV has released a Q3-2014 trading update indicating an increase in new players, but noting heavy marketing spend which could impact its full year results.
 
The report notes:
 
* 21 percent increase in new depositing players to 18,853 (Q3 2013: 15,566)
 
* 22 percent increase in active depositing players to 35,225 (Q3 2013: 28,890)
 
* High level of marketing spend may result in expected full year results sinking below market expectations
 
* Cash balances GBP 13.4 million at 30 September 2014.
 
Bjarke Larsen, Interim CEO of the group, says that growth in new depositing players and total depositing players has continued during the quarter, but that revenues remained broadly flat against the same quarter of 2013 (Q3 2014: GBP 6.4 million; Q3 2013: GBP 6.5 million).
 
"The Group's interim results referred to the widely reported unsustainable level of marketing activity throughout the gaming industry driven by the impending point-of-consumption tax ('POC') in The UK, a trend that has continued into this quarter," Larsen cautioned.
 
"Despite the Group's level of marketing spend, it has not achieved the targeted levels of new customers and net revenue expected. This situation combined with the current trading environment, and the initiation of POC means that the Board expects current market expectations to be materially lower than forecast.
 
"Management has conducted a thorough review of its marketing activity and has developed a new strategy designed to deliver improved returns through more cost effective and better targeted marketing spend.
 
"The Company remains highly cash flow generative and is supported by a strong balance sheet with cash or cash equivalents totalling GBP 13.4 million at 30 September 2014."



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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