5/4/10 – Investors in the online poker group Devilfish Gaming, brainchild of the respected pro Dave Ulliott, will have been relieved to see better numbers developing through the last half of 2009.
The latest FY results show that the company is reducing its pre-tax losses and increasing sales, thanks to a significant improvement which has seen user numbers double.
The company reported that sales doubled in the last two quarters of 2009 to GBP 476 248 (GBP 237 599 in the comparative period of the previous year), and registered users on the site increased to 18 500 players (2008: 8 000), 5 000 of whom are active cash or tournament players (2008: 2 400).
CEO Paul Barnes commented, “We have continued to operate the business on a very low burn with little or no spend on marketing, whilst we pursue the agreed strategic course of growth via strategic investments and partnerships.
“The latter includes mergers, acquisitions, and B2B deals.”
The management report included an agreement on new bingo facilities through Dragonfish in collaboration with the German gambling group Gauselmann). This is to be followed by a sports betting product, although a launch date has yet to be publicised.