Revenues Up In NetPlay 2007 Results
Published: Friday, May 23, 2008 Online-Casinos.com
REVENUES UP IN NETPLAY FULL YEAR RESULTS
Exceptional performance from "Live Roulette" on interactive television
Martin Higginson's London-listed NetPlay interactive television group started the week by releasing its preliminary full year 2007 results, showing a substantial revenue growth of 61 percent from its operations, taking revenues to GBP 9.4 million (2006:GBP 5.5 million).
The company's statement singled out its top "Live Roulette" product as the significant contributor with revenues up 400 percent to GBP 17.3 million (2006: GBP 3.4 million).
Other highlights in the statement included:
* Acquisition of Play Monday database, acquired 18 January 2007
* Acquisition of Abstract Games, acquired 23 February 2007
* Successful launch of "Big Box Bingo" in July 2007
* Investments made in 2007 are now showing excellent results
* Early trading in 2008 very positive, with GBP 843 000 EBITDA achieved in first four months
* April 2008 EBITDA exceeded GBP 300 000
Latest moves not included in the balance sheet include:
Agreement with Parlay Entertainment to extend its bingo offering and develop 76 additional web-based games, on 22 January 2008
Acquisition of 7 600 mobile quiz subscribers from Rubberduck, on 10 March 2008
Acquisition of Bingos.com, on 17 March 2008
Acquisition of Sky Channel 848, on 6 May 2008
Appointment of Dominic Mansour to the Board as a CEO of Bingos.com, in April 2008
CEO Higginson commented: "It is extremely encouraging to see the strategic investment decisions we made in 2007 beginning to show excellent results in 2008. We firmly believe in the future commercial strengths of a converged gaming offering.
"Providing the customer with a trusted "live" interactive gaming experience helps build trust and loyalty in our gaming brands. This in turn helps secure a longer customer life time value and therefore greater profitability."
Looking ahead, Higginson revealed that the company will continue to launch new formats, providing a greater choice of games. He said that the acquisition of Bingos.com will allow NetPlay to build more robust systems across all platforms, and expressed confidence in the company for the year 2008.
