| Tournament | Dates | Time |
| $500 Freeroll | 01/11/08 - 30/11/08 | 01:30 London |
| $500 Freeroll | 01/11/08 - 30/11/08 | 05:45 London |
| $500 Freeroll | 01/11/08 - 30/11/08 | 09:30 London |
| $500 Freeroll | 01/11/08 - 30/11/08 | 18:00 London |
| $200 Freeroll | 01/11/08 - 30/11/08 | 03:00 London |
| $200 Freeroll | 01/11/08 - 30/11/08 | 13:00 London |
| $200 Freeroll | 01/11/08 - 30/11/08 | 20:15 London |
| $200 Freeroll | 01/11/08 - 30/11/08 | 21:45 London |
Playtech (AIM: PTEC), the international designer, developer and licensor of software to the online and land-based gaming industry, today announces its Key Performance Indicators (KPI's) for the quarter ended 30 June 2008 and also provides an update on current trading.
"The second quarter of 2008 was a further significant period of growth for Playtech. The Company reported revenues of $42.4 million, representing an increase of 75% on the corresponding quarter in 2007 and a nine per cent increase on the previous quarter. This level of performance, particularly considering the impact of the Euro 2008 football tournament and traditional seasonality, is very impressive with licensees continuing to win relative market share. For the year to date, total revenues have increased by 85 per cent. The Company has had a good start to July with further continued growth in both casino and poker. With organic growth and the launch of new licensees in Q3 and beyond we look forward to a strong quarter and the Board is highly confident of the prospects for the full year."
Mor Weizer, Chief Executive Officer
Financial Highlights
Operational Highlights
Operations
Playtech has made strong progress during the period with total Group revenues growing in the second quarter to $42.4million, a 75% increase from that achieved in the second quarter of 2007 and 9% above that achieved in the previous quarter. The Group's casino business continued to show strong growth, with year-on-year revenues up 77% to $30.8million and up 13% from the previous quarter. Poker revenues grew by 74% to $11million compared to the same quarter in 2007 and remained steady compared to the previous quarter. This was a significant achievement considering the Euro 2008 football competition and warm weather.
In line with Playtech's strategy to diversify geographically, focus on regulated markets and migrate licensees from competitors, the Group has added 10 new licensees in the first six months of 2008 and have also signed 8 MOU's. The new licensees include Betsson, one of the largest publicly traded online gambling operators to the European market, Vista Global Limited, the group behind the celebrity endorsed Hollywood Poker brand and Genting Stanley Alderney, a subsidiary of Genting International, a leading integrated resorts specialist with over 20 years of international gaming expertise and global experience in developing, operating and/or marketing acclaimed casinos, to which Playtech will supply its market leading casino and poker products. This brings the total number of licensees to 60.
The Group continues to expand its product offering with the soft launch of its Asian P2P games during H1, with full roll out expected in Q3. In addition, development of the Flash Poker product has been completed and is under testing and the full release of the product to all poker licensees is expected to occur during Q3. During the period Playtech established a content unit aimed at delivering an increased number of games to its licensees. Playtech has also signed a four-year, exclusive licensing agreement with Paramount Digital Entertainment, which will enable Playtech licensees to offer games featuring two very well-known Paramount Pictures brands, "Gladiator" and "The Untouchables. Furthermore, the Group is currently redeveloping its Bingo offering and the new product is expected to roll out in late Q3 early Q4.
Placing
During the period Playtech raised £112million, before expenses, by way of a Placing of up to 21,620,946 new Ordinary Shares at a price of 520p per Placing Share. The Placing Shares represented approximately 9.9% of Playtech's issued Ordinary Shares immediately prior to the Placing. The net proceeds of the Placing are to be utilised to finance acquisition opportunities. Although Playtech believes a material proportion of future growth of the Company can be generated organically. Playtech has also identified a number of acquisition opportunities which, if completed, would have the potential to accelerate the development of the Company and add significant value. The Company has commenced due diligence in relation to one of these acquisition opportunities and so far progress has been satisfactory.
Current Trading
The Company has enjoyed good current trading with growth in July in both casino and poker. The licensee pipeline is also strong with 8 MOU's signed so far in 2008 with the momentum of Q2 continuing into Q3the Group expects to sign additional new licensees during the year which should further strengthen its revenue generation in the future.
Mor Weizer, Chief Executive Officer, commenting on the KPI's, said today:
"This has been another outstanding quarter for the Group. With significant new licence agreements signed during the period and with the soft launch of the Asian P2P games and Flash Poker product Playtech is well positioned to grow in Q3 and beyond.
The Group also successfully raised £112million during Q2 and the net proceeds are to be utilised to finance acquisition opportunities. Playtech has demonstrated its ability to leverage acquisitions and believe this money raised will provide the Group with an extremely strong balance sheet that will allow it to take advantage of further opportunities that the current market offers and in relation to that the Group has commenced due diligence on a potential acquisition opportunity."
The Company has now entered its close period and its 2008 interim results will be announced on 3 September.
Second Quarter Key Performance Indicators at 30 June 2008
Revenues
Three months ended ‘000 ($) | 30 June | 30 June | Change | 31 March | Change |
Total Revenues | 42,423 | 24,174 | +75% | 38,971 | +9% |
Casino Revenues | 30,775 | 17,430 | +77% | 27,201 | +13% |
Poker Revenues | 11,020 | 6,315 | +74% | 11,014 | 0% |
Share of Geographical Diversity [1]
Three months ended | 30 June | 30 June | 31 March |
Europe | 72% | 72% | 73% |
Asia Pacific | 21% | 20% | 20% |
Rest of the World | 7% | 8% | 7% |
Nominal Change in Geographical Regions
Period | Q2 2008 to Q2 2007 | Q2 2008 to Q1 2008 |
Europe | +83% | +13% |
Asia Pacific | +93% | +22% |
Rest of the World | +43% | +2% |
First Half Year Key Performance Indicators at 30 June 2008
Revenues
Six months ended ‘000 ($) | 30 June | 30 June | Change |
Total Revenues | 81,394 | 43,966 | +85% |
Casino Revenues | 57,976 | 32,645 | +78% |
Poker Revenues | 22,034 | 10,536 | +109% |
Share of Geographical Diversity [1]
Six months ended | 30 June | 30 June |
Europe | 73% | 70% |
Asia Pacific | 20% | 21% |
Rest of the World | 7% | 9% |
Nominal Change in Geographical Regions
Period | H1 2008 to H1 2007 |
Europe | 97% |
Asia Pacific | 83% |
Rest of the World | 42% |
[1] The relative share is calculated as the total players' income derived from the specific region divided by the total players' income from all regions
Mor Weizer, Chief Executive Officer, and Guy Emodi, Chief Financial Officer, will be hosting an analyst conference call today at 11.30am (BST) on 16 July 2008. The timing of the call has been set to allow analysts from outside of the UK to participate.
Details of the conference call are as follows:
Dial-in no UK: +44 208 515 2302
Dial-in no US: +1 480 629 9562
Conference title: Playtech Q2 KPIs
Replay (available for 1 week):
Dial-In No: +44 207 190 5901
PIN code: 139998#
- ends -
For Further Information:
Mor Weizer, CEO, Playtech Ltd
c/o Bell Pottinger
www.playtech.com
Tel: 020 7861 3232
David Rydell / Chris Hamilton
Bell Pottinger Corporate & Financial
Tel: 020 7861 3232
About Playtech
Playtech develops unified software platforms for the online gambling industry, primarily targeting existing online operators wanting to upgrade their system; sportsbooks looking to diversify and land-based operators making their online debut. Playtech gaming applications - online casino, poker, bingo, mobile gaming, live gaming, land-based kiosk networks and fixed-odds games are fully intercompatible and can be freely incorporated as stand-alone applications, accessed and funded by players through the same user account and managed by the operator by means of a single powerful management interface. Founded in 1999, Playtech has over 700 personnel distributed globally, around seventy five percent of whom are engaged in research and development of current and future gaming technologies.
Website: www.playtech.com
With so many different Poker Tournaments on offer it pays to check out what we have in store. Whether you are completely new to online Poker Tournaments or a seasoned veteran of the game, you can find a smorgasbord of tasty information right here about all the Poker Tournaments we offer. And if you just want to play against your friends or colleagues then simply set up your own Private Poker Tournament.
Here are a handful of tourneys that you will come across at Gnuf:
Satellite Poker Tournaments is all about winners battling winners. Basically, a satellite is an online Poker Tournament where the prize for winning is a free entrance to a bigger Poker Tournament. Ultimately, you may end up at a live tournament. In European poker tour, for example, you can qualify through satellites. Win one Poker Tournament and you proceed to the next. Win that one and move up yet another notch Before you know it you're sitting there, live, with the world's best poker players.
In Guaranteed Tournaments the prize pool, or winnings that get awarded to the top players, is secured or guaranteed by the house or poker room. In a nutshell, you know what you are guaranteed to bring in if you play your cards right. But the greater the award, the greater the struggle. Up for it?
Want to put your skills to the test at a tournament without coughing up a bundle of cash even before you've made it to the table? Then Freeroll Poker Tournaments are the answer to your prayers! Freerolls are poker tournaments with no entry fee. No detours. What you put in goes straight onto your stack! All you've got to do is play your hand.
Rounders Poker Tournaments are a series of Sit n Go (single table) Poker tournaments with 5 different levels. Choose between playing your way up or buying your way in to a level of choice. The higher the level, the higher the buy-in.
The great thing about Rounders is Poker Tournaments that you are in the game regardless of how you perform. If you win you move up. Play a decent hand and you get another crack at the same table. Bust out and you get a token to re-enter at a lower level, but you are still in the tournament with the prize pool in sight. It aint over until its over!
Alongside major poker tournaments but hardly on the sideline in the poker world is a second Poker Tournament form known as Sit n Go. Truly a player's choice!
A problem that often arises with large Poker Tournaments is that they can go on pretty much forever, because of its large number of participants and dire qualifying structure. Sit n Go, commonly referred to as SnG, is the player's answer to a player's discomfort. Instead of starting at a scheduled time, Sit n Go Poker Tournaments, or SnGs, begin play immediately after a certain number of players have registered for the tournament. And the number of players are limited to make the play more efficient.
In contrast to a Single Table Sit n Go, The "multi-table" Sit n Go tournaments allows a larger number of people to play in the same event. At gnuf.com you can choose multi play between, 15, 20 and 30 players. Each player is assigned to starting table play. As players drop out, the tension rises and the poker server moves successful players into the vacated seats. Tables and number of players are reduced, and eventually it comes down to a showdown between two opponents. It could be you!
"For CryptoLogic, everything starts with the customer experience - and today we introduce a tool that will let players take their poker game to a whole new level," said Brian Hadfield, CryptoLogic's President and CEO. "It's all about making the poker player's experience with CryptoLogic software more flexible and more entertaining than ever before."
Private tournaments
Players can now host their own private games with the new 'Create your own tournament' feature, which simulates the experience of hosting a poker game at home. This community-building feature allows players to choose the games they want to play, at the stakes they want to play for, and at the time that is most convenient for them. Players also have the unique option to invite whomever they wish to play at their own private tables, delivering a flexible, online gaming experience.
Creating a tournament is easy. A simple click of a button in the poker lobby takes players to a private tournament set-up window. There, players can choose from a range of options, including game type, currency, buy-in amount, prize payout and date. When a private game is created, an email invitation is sent to the selected players. Only those who receive the invitation can participate in the game.
New sorting and filtering tool
CryptoLogic's new and improved 'sorting and filtering tool' means players will spend less time trying to find the game they want, and more time where they want to be - at the tables.
This easy-to-use feature allows players to customize the poker lobby by creating their own settings for cash games and tournaments. They can also change these settings any time they wish. Players can choose to display only the games they like to play, from the game type and speed, to choice of stakes and currency, to the maximum number of players at their table and preferred start time for tournaments.
"CryptoLogic's newest Internet poker innovations ensure the customer is equipped to play their poker game how they want, where they want and when they want," added Justin Thouin, CryptoLogic's Vice President, Product Management and Business Development. "It's about putting poker in the hands of players, and letting great entertainment happen - faster."
Today, CryptoLogic provides more than 8,000 concurrent players some of the industry's most popular poker events, including the Caribbean Poker Classic, an annual high-stakes live poker tournament, and the Head Hunter Challenge, a tournament format in which players win cash for every participant they eliminate.
About CryptoLogic(R)
Focused on integrity and innovation, CryptoLogic Limited is a world-leading, blue-chip public developer and supplier of Internet gaming software. Its leadership in regulatory compliance makes it one of the very few companies with gaming software that is certified to strict standards similar to land-based gaming. WagerLogic(R) Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to blue-chip customers who offer their games around the world to non-U.S. based players. For information on WagerLogic, visit www.wagerlogic.com.
CryptoLogic's common shares trade on the Toronto Stock Exchange (CRY, CXY), the NASDAQ Global Select Market (CRYP) and the Main Market of the London Stock Exchange (CRP).
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release, which are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements.
SOURCE: CryptoLogic Limited
Thursday, 3 July 2008 – NETELLER Plc (LSE: NLR), the leading independent, global provider of online payments, is pleased to provide a trading update prior to entering its half year close period. The Group’s results for the six months ended 30 June 2008 will be announced on Wednesday, 3 September 2008.
Trading update
The growth trends in revenue seen in the first quarter have continued, with reported revenue for the second quarter of the year expected to be approximately 10% ahead of the first quarter. Fee revenues from the Group’s e-wallet have continued to show double digit quarter-on-quarter growth. The Group’s sign ups and active customer growth have followed past trends whereby quarter two traditionally exhibits slower growth than the first quarter.
As anticipated the second quarter will produce a lower gross margin than the first quarter, reflecting the impact of the Group’s VIP rebate program which was launched in late April. However, the net impact of this program and other marketing initiatives is expected to result in a slight improvement in operating margin in the second quarter.
Overall, the Group has continued its good start to 2008 and therefore expects to report a result for the first six months in line with market expectations. The Group is continuing to invest in developing its businesses and the Board is confident of further progress in the second half of the year as the Group’s growth plans remain on track.
Sale of Calgary property
As announced on 30 June 2008, the Group is close to completing the sale of its principal Calgary property and expects to provide a further update on or before 11 July 2008.
Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online payments business. Through its NETELLER, NETBANX, and 1-Pay brands, the Group specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.
NETELLER Plc is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.
NETELLER Group media relations are managed by McEntegart Marketing. Contact them through the Media Relations Contact page. Group investor relations are managed by Citigate Dewe Rogerson. Contact them through the Investor Relations Contact page.
Monday, 30 June 2008 – NETELLER Plc (LSE: NLR), the leading independent, global provider of online payments, provides the following update on the sale of its Calgary property.
As indicated on 1 May 2008, the Group had anticipated closing the sale of its principal property in Calgary on 30 June 2008. However, due to a number of factors, including public holidays in Canada and unforeseen delays within the land registry agency in Calgary, the Group now expects that all requisite formalities will be completed and closing will occur on or before 11 July 2008.
A further announcement will be made in due course.
Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online payments business. Through its NETELLER, NETBANX, and 1-Pay brands, the Group specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.
NETELLER Plc is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.
NETELLER Group media relations are managed by McEntegart Marketing. Contact them through the Media Relations Contact page. Group investor relations are managed by Citigate Dewe Rogerson. Contact them through the Investor Relations Contact page.
Wednesday 7th May 2008 – The NETELLER Group (LSE: NLR), the independent global online payments business, has deployed a new internationalised version of its NETBANX payments gateway service to merchants, including new merchant easyBus, the airport transfer operator which is part of the easyGroup, founded by Stelios.
The new international version means that customers can easily pay online in their own currency and language, using local or global payment cards or other local payment options. This improves choice for consumers, as well as giving them a better rate of currency exchange. For merchants, this means they can improve customer loyalty, customers are less likely to abandon a purchase, and merchants share revenues generated from in-stream foreign exchange.
The NETELLER Group’s NETBANX platform provides global payments services used by businesses of all sizes to accept payments via the internet, IVR (Interactive Voice Recognition) and call centre channels. This new release delivers specific enhancements that allow merchants to accept payments from overseas customers, including:
NETBANX is deployed by many well respected brands extend their business opportunities using payments. easyBus, part of the easyGroup that includes easyJet, targets the value conscious international traveller. easyBus has standardised on NETBANX because of the new global payment features including local non-card payments and Dynamic Currency Conversion.
“Our customers are very value conscious and don’t want to be surprised when they open their credit card statements,” said Vasant Mistry, CEO of easyBus. “Features like NETBANX’s Dynamic Currency Conversion give our customers a better deal, with no shocks for us or them.”
“We are very focused on helping companies like easyBus drive business around the corner or around the world,” said Ron Martin, President & Chief Executive Officer of NETELLER. “We believe that these new globalisation features in our NETBANX service significantly extend our lead over other payment brands. If your business needs to do global payments like easyBus, then NETBANX should be top of your shortlist.”
The new enhanced version of the NETBANX payment gateway is available immediately. No further integration is required for existing merchants to access the new features. More information about the NETBANX payment gateway can be found at www.netbanx.com. The new version can be seen in action at www.easybus.co.uk
NETBANX is the global payment arm and a wholly-owned subsidiary of the NETELLER Group. NETBANX offers high performance global payments gateway services used by thousands of businesses to accept payments via the Internet, IVR, call centre and ePOS channels. Clients include nPower, moneysupermarket.com, and Walmart’s UK brand, ASDA.
As well as the typical credit and debit card processing offered by other service providers, NETBANX uniquely offers local country specific payments types, such as Direct Debit and Credit for the UK, giropay and ELV for Germany, and a full range of payment services for companies expanding their markets in Asia. For more information about NETBANX visit www.netbanx.com.
Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online payments business. Through its NETELLER, NETBANX, and 1-Pay brands, the Group specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.
NETELLER Plc is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.
NETELLER Group media relations are managed by McEntegart Marketing. Contact them through the Media Relations Contact page. Group investor relations are managed by Citigate Dewe Rogerson. Contact them through the Investor Relations Contact page.
First quarter 2008 shows solid performance continuing.Friday, 18 April 2008 - NETELLER Plc (LSE: NLR), the independent global online
payments business, is pleased to provide a trading update in respect of its
performance during the first quarter to 31 March 2008.
Highlights
- Renewed focus on merchant and consumer customers drives contract wins for
NETELLER e-wallet and NETBANX payments gateway business.
- Continued investment in improving product offering in core European and Asia
Pacific markets.
- European revenue (including NETBANX) was $11.3 million, an increase of 9%
from Q4 2007; Asia Pacific (including 1-PAY Direct) grew 20% to $3.6 million
over the same period.
- Active e-wallet users (ex North America) totalled 101,301 in Q1 2008, up 1%
from Q4 2007.
- E-wallet revenue per active e-wallet user was $113 in Q1 2008, up 7% from
$106 in Q4 2007.
- Average daily sign ups and average daily receipts in Q1 2008 showed growth of
6% and 11% respectively from Q4 2007.
- Strong cost control continues in Q1 2008, with gross margin of 62% (Q4
2007: 54%) and operating income of $2.4 million (Q4 2007: $0.6 million loss).
- Solid balance sheet at 31 March 2008 with $55.2 million cash and cash
equivalents.
Ron Martin, President & CEO, commented "The business has continued to deliver a
good performance in the first quarter. We are beginning to see tangible sales
progress in the adoption of our Merchant Solution Suite amongst both gaming and
non-gaming customers and prospects. Growth in our key European and Asia Pacific
markets remains encouraging and as we introduce new payment solutions and
targeted marketing programmes, we hope to see this momentum continue. The Board
looks forward to continued progress and remains confident about prospects for
the business."
The Company's Annual General Meeting will be held in the Isle of Man on Tuesday
13 May 2008.
Enquiries:
Andrew Gilchrist + 44 (0) 1624 698 713
VP Communications, NETELLER Plc
Email: investorrelations@neteller.com
Citigate Dewe Rogerson + 44 (0) 207 638 9571
Sarah Gestetner / Seb Hoyle / George Cazenove
Daniel Stewart & Co Plc + 44 (0) 207 776 6550
Paul Shackleton
Key performance indicators
The Group saw continuing improvement in its principal KPIs during the first
quarter of 2008, with active e-wallet users growing by 2% compared to the same
quarter in 2007 (excluding North American active e-wallet users), and also
growth of 1% quarter on quarter. Average daily receipts from e-wallet users
were approximately $365,000, an increase of 11% from the $330,000 reported in Q4
2007 and an increase of 22% on a like-for-like basis for Q1 2007. Total
receipts from e-wallet users during Q1 2008 totalled $33.2 million compared to
$30.3 million in Q4 2007.
The table below sets out the Group's active e-wallet users by region, excluding
those from North America:
Active e-wallet users Q1 2008 Q1 2007 % change Q1 Q4 2007 % change Q1
2008 vs Q1 2008 vs Q4
2007 2007
Europe 81,552 79,617 2% 77,937 5%
Asia Pacific 14,984 15,330 -2% 17,252 -13%
Rest of World 4,765 4,633 3% 4,795 -1%
Total 101,301 99,580 2% 99,984 1%
Total signed up 1,097,456 734,100 49% 997,219 10%
e-wallet users
In line with the Group's strategy to bring additional scale to the e-wallet, the
Group expects to see continuing growth of the active e-wallet user base and
e-wallet revenue per active e-wallet user in 2008. The table below shows by
region the Group's e-wallet revenue per active e-wallet user based on the
average quarterly fee revenue per user for the relevant quarters in 2008 and
2007:
E-wallet revenue Q1 2008 Q1 2007 % change Q1 Q4 2007 % change Q1
per active e-wallet 2008 vs Q1 2008 vs Q4
user ($) 2007 2007
Europe 117 118 -1% 111 5%
Asia Pacific 102 105 -3% 88 16%
Rest of World 81 130 -37% 92 -11%
Total 113 117 -3% 106 7%
To improve the usefulness of this KPI, revenue from the Group's Asian Pacific
gateway business, 1-PAY Direct, has been stripped out of the fee revenue in
calculating the e-wallet revenue per active e-wallet user for Q1 2008 and prior
period comparatives.
Average daily sign ups improved quarter on quarter by 6%, with 1,101 average
daily sign ups in Q1 2008 (excluding North America). This included growth of
10% from Europe in Q1 2008 compared to Q4 2007. Total average daily sign ups in
Q1 2008 (including North American sign ups) were 1,122 compared to 1,076 in Q4
2007, an increase of 4%. The table below shows the Group's sign ups by region
(excluding North America):
Average daily sign ups Q1 2008 Q1 2007 % change Q1 Q4 2007 % change Q1
2008 vs Q1 2008 vs Q4
2007 2007
Europe 819 867 -6% 745 10%
Asia Pacific 176 158 11% 197 -10%
Rest of World 106 103 3% 98 8%
Total 1,101 1,128 -2% 1,040 6%
The number of consumers who have e-wallets totalled 4,047,010 at the end of Q1
2008, including registered e-wallet users from North America.
Financial highlights
Revenue
Revenue for the first quarter 2008 of $17.0 million represented a decrease of 7%
from $18.3 million for Q1 2007 (excluding the $14.4 million in revenue from
North American operations in that quarter) primarily due to the anticipated
decrease in interest revenue earned. Compared to Q4 2007, revenue grew by 5% in
Q1 2008.
E-wallet revenue, which comprises merchant and consumer fees generated from the
use of the e-wallet, excluding fees from the Group's NETBANX and 1-PAY Direct
gateway businesses, totalled $11.4 million in Q1 2008, an increase of 8% from Q4
2007. The Group has separately disclosed revenue from its 1-PAY Direct business
as this revenue is not directly related to usage of the Group's e-wallet, as
with NETBANX's revenue.
Revenue Q1 2008 Q1 2007 % change Q1 Q4 2007 % change Q1
($ millions) 2008 vs Q1 2008 vs Q4
2007 2007
Europe (ex NETBANX) 9.5 9.4 1% 8.6 10%
Asia Pacific (ex 1-PAY Direct) 1.5 1.6 -6% 1.5 1%
Rest of World 0.4 0.6 -35% 0.4 -12%
Total e-wallet revenue 11.4 11.6 -2% 10.5 8%
NETBANX 1.8 1.5 19% 1.7 5%
1-PAY Direct 2.1 0.9 138% 1.5 39%
Total fee revenue 15.3 14.0 9% 13.8 11%
Interest 1.7 4.3 -61% 2.4 -30%
Total 17.0 18.3 -7% 16.2 5%
North America (1) 0.0 14.4 nm 0.0 nm
Total 17.0 32.7 -48% 16.2 5%
(1) Some residual revenue was earned from North American operations during
Q1 2007 prior to the Group's withdrawal from the US and subsequently Canada;
nm: not meaningful
Interest revenue continues to decrease through both the impact of lower balances
held by the Group as a result of the return of funds to US customers under the
Distribution Plan and also the reduction in interest rates particularly for
funds held in US dollars.
Gross margin
Gross margin for Q1 2008 was 62.2% compared to 51.0% in Q1 2007 and represents
an improvement on the figure of 53.9% reported for Q4 2007.
Customer support costs continued to represent the largest proportion of direct
costs at 15.2% of revenue, compared to 17.4% in Q4 2007. Website maintenance
costs are down from 11.1% in Q4 2007 to 5.6% of revenues in Q1 2008 due to
significant reductions in server hosting costs relating to termination of a long
term contract in late 2007. Deposit and withdrawal fees were 16.7% of revenue
compared to 16.4% in Q4 2007.
Operating expenses
The Group achieved income from operations of $2.4 million in Q1 2008. General
and administrative expenses decreased to $8.2 million from $9.3 million in Q4
2007. This favourable variance was expected with decreased office, corporate,
advertising and professional fees in Q1 2008.
Cash position of the Group
The total amount of cash available to the Group totalled $55.2 million at 31
March 2008. The Group made the final scheduled payment of $38.25 million to the
US authorities on 16 January 2008. In relation to the Distribution Plan, the
Group had repaid $81 million to US customers out of a possible total of $94
million. The balance owing remains in trust.
As previously announced on 18 March 2008, the Group currently anticipates that
the disposal of the Group's principal Calgary property will be completed and
funds received by 30 April 2008. The total consideration receivable remains
unchanged at CAD 33.5 million.
Operational highlights
The Group announced earlier this year that 2008 would see important initiatives
to support its strategic goal of providing bold payment solutions for online
communities. During the first quarter, the Group's revitalised consumer
offering at www.neteller.com, the NETBANX payments gateway and the NETELLER
Payment Network were relaunched with refreshed branding, aligning the Group's
consumer offering of a suite of lifestyle financial services for the online
generation more closely with its target demographic.
The first quarter also saw major product enhancements for merchants in line with
the Group's commitment to improve its merchant value proposition, including:
- Beta first release of Group's new integrated e-commerce payment suite
that combines the Group's NETBANX gateway and NETELLER e-wallet into a single
product offering for merchants.
- Significant enhancements to the NETBANX payments gateway for merchants
targeting European consumers, including local language, payment and foreign
exchange/currency enhancements.
- Delivery of the first release of a merchant co-branding program,
featuring co-branded merchant landing pages, to drive member acquisition and
funding conversions.
- Pilot of the Group's new payments gateway merchant application,
NETCENTRE, with significantly enhanced reporting and payment management
capabilities.
- Brand updates to the NETBANX brand and NETELLER e-wallet Merchant
Application to drive cross-selling of products to merchants.
The Group also invested in improving its consumer offering through continuing
product enhancements for its e-wallet users. These included:
- New European payment types for the NETELLER e-wallet to drive instant
payment and member conversions in this key geographic region.
- Revised consumer e-wallet pricing to increase e-money deposit volume
and drive adoption of prepaid cards for withdrawals.
- Enhancements to consumer dynamic limit management to increase e-money
deposit velocity.
- Account upgrade process improvements to drive more rapid NETELLER
e-wallet member feature and funding limit entitlement increases.
- Improvements to the prepaid card making funding faster for NETELLER
e-wallet members.
- Launch of Affiliate Program to drive increased new member acquisition.
- Revised consumer website with ability to tailor consumer content for
forty countries.
During the quarter a number of new gaming and non-gaming merchants have signed
contracts with the Group for the e-wallet and gateway payment processing
services. In aggregate the new merchants are expected to deliver
tens-of-millions of incremental transactions to the business.
The Group also announced in March 2008 the establishment of its 50:50 joint
venture, Centricom Europe Limited, to distribute the POLi service in Europe.
Under the joint venture, the Group also announced the launch of the POLi payment
service for the UK market, distributed through NETELLER's payment processing
arm, NETBANX. In August 2007, the NETELLER Group announced it had taken a 25%
strategic stake in Australian POLi operator, Centricom Pty Ltd. The European
joint venture is a 50/50 joint venture between both parties.
Trading outlook
The Board is pleased with the progress made during the first quarter of 2008 and
remains confident about prospects for the business. The strategic focus of the
Group towards its member and merchant customers and the introduction of the
e-Commerce Payment Suite are being evidenced by new contract wins in both the
NETELLER e-wallet and the NETBANX gateway business and continuing improvements
in the Group's key performance indicators, building on the strength of the first
quarter performance.
The Board continues to investigate the most appropriate use of the Group's cash
resources including organic investments such as the NewTeller project,
acquisitions and alliances, as well as its commitment to the introduction of a
progressive dividend policy at or before the release of the Group's 2008 full
year results.
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| Top o' the morning, it's last orders for the €3 Million Guaranteed Irish Open! Be quick and you could still win a $9,200 Irish Open Package that includes event buy-in, hotel, travel and $500 spending money. This is a fantastic chance to experience the shamrocks and shenanigans of Dublin and play for a pot 'o gold in the emerald isle. THE ROAD TO THE POT O' GOLD! Daily Irish Open Satellites • Running frequently. Last Satellite - Sat @ 13:45 CET • 1 in 10 players go to Weekly Final (Turbos 1 in 12) Weekly Irish Open Final • Sat @ 20:15 • 1 in 8 players go to Sunday's Final Irish Open Grand Final • Sun @ 19:00 CET • 1 in 10 players win the Irish Open package Go to Satellites in the poker lobby and register now before it's too late! |
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Celebrate St Patrick’s Day in style while jetting to Dublin, Ireland for the 2008 Irish Open with CakePoker. With a prize pool guaranteed at €3 Million this annual tournament is on target to upholding its 2007 status as Europe’s largest poker event.
Last year’s Irish Open drew over 700 players from around the world, including top poker pro names and World Series of Poker Champions. Hosted by a new venue this year, the Irish Open 2008 field will enjoy a week of poker action at the luxurious CityWest Hotel located minutes from historical Dublin, Ireland.
Bring your lucky charms to the Cake tables for our Irish Open super satellites playing Saturday’s at 2 pm EST starting December 15th through March 1st. Buy in directly or try your Irish luck and skills at one of our many cash or Cake Reward satellites:
$1 Million Guaranteed!
The Everest Poker Avalanche has returned! They listened to the feedback, and created an even better tournament for 2008. The guarantee will still be $1,000,000, but with an improved qualification structure we’ll give a better chance for more players to qualify.
What’s unchanged from last year is the fabulous finale: the last 10 players – plus 1 guest each – will be flown to play the final table live. A free vacation weekend plus a share of $1,000,000 – what could be better?
Check back here to learn the details for the final table location.
How to qualify:
The Avalanche is truly a tournament for everyone, catering to players of all skill levels and bankrolls:
The Avalanche Online Final will be held on May 10th, 2008, at 15:00 GMT, and will stop when ten players remain. These ten finalists will win a trip to play the live final table at our live location!
Payout Structure:
We have made the payout structure attractive to all players. Not only is the Avalanche winner guaranteed at least $200,000, but we will be paying out 100 places. It’s a player friendly structure that will leave many players with a sizable cash prize.
| Place(s) | % Payout | Guaranteed Minimum Payout |
| 1 | 20.00% | $200,000 |
| 2 | 12.00% | $120,000 |
| 3 | 9.00% | $90,000 |
| 4 | 7.00% | $70,000 |
| 5 | 4.50% | $45,000 |
| 6 | 3.50% | $35,000 |
| 7 | 2.50% | $25,000 |
| 8 | 1.75% | $17,000 |
| 9 | 1.25% | $12,500 |
| 10 | 1.00% | $10,000 |
| 11-20 | 0.95% | $9,500 |
| 21-30 | 0.70% | $7,000 |
| 31-40 | 0.60% | $6,000 |
| 41-60 | 0.40% | $4,000 |
| 61-80 | 0.20% | $2,000 |
| 81-100 | 0.15% | $1,500 |
Keep checking this page throughout the year. We’ll be posting updates regarding the payout structure, qualifiers, promotions, final table location and more!
Starting Monday 4 February, 2008 at 19.00 (GMT) MANSIONPOKER.com will host a FREE-to-ENTER Poker Tournament for your chance to win a Hospitality Package for 2 and £500 spending money to the Carling Cup Final on Sunday 24 February, 2008.
All other 8 final table players will win a pair of tickets to the Carling Cup Final.
The top 3 players from Monday’s Poker Tournament will go through to the final table at 19.00 (GMT) on Thursday, 7 February. If you don’t make the final table on Monday, 4 February you can try again at 19.00 (GMT) on Tuesday, 5 February and Wednesday, 6 February.
Meantime, visit our 'How To Play Texas Hold'em' page for all you need to know about Poker to get you started - it doesn’t take long to learn the game. What’s more, you can learn for FREE at MANSIONPOKER.com.
Tournament Schedule:
| Round | Date | Time - GMT | Format |
| Carling Cup Round 1 - NL Hold’em | Monday 4 February | 19:00 | Top 3 players make the Final Table |
| Carling Cup Round 2 - NL Hold’em | Tuesday 5 February | 19:00 | Top 3 players make the Final Table |
| Carling Cup Round 3 - NL Hold’em | Wednesday 6 February | 19:00 | Top 3 players make the Final Table |
| Carling Cup FINAL TABLE - NL Hold’em | Thursday 7 February | 19:00 | 9 Finalists play to win Hospitality Package |
Michael Hallen, chief executive of Boss Media, has hailed his company’s effective takeover by GTech and Medstroms subsidiary GEMed yesterday.
GTech and Medstroms acquired 31.2 million of Boss’ shares yesterday, or over 50%, effectively ending all possibility of any other competitor bidding for the company. GTech now holds 24 million shares and Medstroms 7.2 million shares of Boss, representing 54.6% of the company’s voting rights and share capital.
Hallen told eGaming Review that the deal would enable Boss to reach into even more markets across the world, and that the company had gathered momentum in the past few months thanks to high-profile contracts and new products such a newly-launched bingo offering.
The Boss Media board of directors recommended an increased offer from GEMed this week of SEK25 per share. GEMed made an offer for Boss of SEK19 per share on 1 February, which was followed by reported interest from two other bidders.
With GEMed increasing its offer by more than 30% this week and having access to many state-owned members of the World Lottery Association, Hallen agreed that the future business potential for Boss was a significant factor in the deal being done. “Absolutely, the access to such large markets was key to this transaction,” he said.
Hallen also denied that the Svenska Spel deal had changed the fortunes of Boss Media, leading to this week’s takeover by GEMed. “I wouldn’t put it like that, Svenska Spel was a high-profile deal but there are assets in Boss that are just as important. We have a number of high-profile clients, in the UK and elsewhere, and there isn’t one that is more important than another,” he said.
Hallen added that he didn’t expect any major staff changes at Boss following the takeover and that the operators that make up the Boss poker network would more than likely be happy and comforted that Boss now has such strong backing in GTech, one of the largest gaming companies in the world.
