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Netplay Tv issues Profit warning
6/26/10 - The UK interactive television and AIM-listed gambling group NetPlayTV took a step back this week, issuing a profit warning following a "much lower than anticipated" take-up on its new BingoStars TV project.
The game is broadcast on major television channels including ITV’s television shopping channel, STV and Virgin One and has mobile technology to allow instant play 'on-the-go'.
In a market update, group chief executive Martin Higginson said it was “still very early days” for the product, which launched at the end of May (see previous InfoPowa report).
“This product is a more akin to our proven interactive gaming formats," a statement from the company said. “We have gained a vast amount of knowledge from our current successful and profitable media partnerships and we are using this knowledge to the full, both in terms of potential cost savings and customer playing habits.
“Early signs are more encouraging with customers depositing funds during the show as well as to the website the following day.”
However, the company noted that the switch from traditional games to an instant play model would have “a material impact on short-term profit performance,” and as a result the directors feel this will have a significant impact on full year market expectations.
“The initial costs associated with producing and trialing new gaming formats are high, although as we amend the model to be more in line with our proven formats we are able to reduce costs significantly with immediate effect,” the statement added.
NetPlay recently relocated to a head office in London and has operational bases in Guernsey in the Channel Isles and Bulgaria.
Industry observers said that the instant play mobile mechanism developed for the BingoStars interactive television format failed to deliver the revenues anticipated, and as a consequence NetPlay had dropped BingoStars from the ITV1, Virgin 1 and STV schedules on 21 June, replacing it with a format deploying more conventional game play.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
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.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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