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Q1-2013 Results for Perform Group

Remainder of the year ahead looks bright
Digital sports media group Perform Group plc issued its interim management statement for the three months ending March 31, 2013.
Highlights include:

  • Year on year revenue growth of 37 percent to GBP 43 million (Q1/2012: GBP31.4 million).
  • GBP 154 million of revenue contracted for full year 2013 (GBP 104 million of 2012 revenues were contracted at the same point in time in 2012).
  • ePlayer headline quarterly sell through rate of 43 percent, total quarterly streams viewed 1.1 billion and average monthly unique users of 118 million. (Q1/2012: sell through rate of 28 percent, 1.2 billion total streams and 105 million unique users).

Perform said a deferred consideration of GBP 50 million was paid to the owners of RunningBall as maximum EBITDA targets were achieved. Pre-agreed debt facilities including Euro 30 million term loan and GBP 20 million revolving credit facility were both drawn down.
Oliver Slipper, Joint Chief Executive Officer, commenting on the results said: "We are pleased to report that our good performance has continued in Q1, with year on year revenue growth. GBP 154m of revenues are contracted for 2013 and we are on track to deliver another year of strong growth.
"We continue to execute against our strategy for growth, acquiring new content and expanding our geographical footprint and we continue to seek acquisition opportunities as we build the business to deliver long term sustainable growth.
“During the quarter we announced the creation of Perform Sporting News, which brings together our leading online sports video offering in the US and Canada with one of the US's flagship sports media brands to a create a top five US digital media player. The US and Canada are two of the world's largest digital marketplaces and we believe this is a fantastic opportunity to scale and transform our business in these territories."

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Gambling News :

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Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

Why is FullFlush Poker Still Down - Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.

Time Running Our For Pennsylvanian online gambling - Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

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