UPBEAT NETPLAYTV TRADING UPDATE
Posted 1/23/11: Company delivers a strong Q4/2010 over Q3/2010
Interactive gaming company Netplay TV Plc announced a trading update for the year ended 31 December 2010.
– The company announced strong Q4/2010 trading with significant increases in Net Gaming Revenue over Q3/2010 and expect full 2010 results to be in line with market expectations.
– Both Q4 customer deposits and casino Net Gaming Revenue are up significantly in comparison to Q3.
– Following the Company's release of the first real money casino app in the UK ‘Apple app store' in August 2010, users have increased significantly month on month. By the end of December, iPhone users accounted for over 10% of all cash players on the core Supercasino live roulette product.
– In Q4 2010, the initial period of the teleshopping trial on ITV1 ended, but following changes to the format and an improvement in performance, the Company has agreed with ITV to continue to run Challenge Jackpot on a rolling monthly contract while further discussions take place.
The company further commented that 2011 has started well and its Board is confident that the strong trading performance achieved at the end of 2010 will continue in 2011 with the delivery of a solid performance, in line with market expectations.
Commenting on the Trading update Charles Butler, Chief Executive of NetplayTV, said:
"There is no doubt that 2010 was a tough year for Netplay, however, after a successful placing in November, a restructuring of the business, and a renewed focus on our core live casino product, we are pleased with the way the business is now performing. With the Company on a stable footing, we very much look forward to driving forward our core live casino product offering increasing the marketing activity around our Supercasino brand and actively exploring opportunities to launch Supercasino in other territories.
"We are particularly pleased with the uptake of our iPhone application, which is a perfect fit for our business and provides another medium for our customers to play seamlessly whilst watching our games on TV or whilst on the move. With iPad and Android applications firmly on our product roadmap, we believe this will be a very exciting year for mobile, and we look forward to significant growth in this area."
