Online Casino Transfer: News - Revenue, Costs Up; Profits Down

06/25/2010		Online Casino Style: News Revenue, Costs Up; Profits Down
Home History Games News Dictionary		NetPlay’s full year end results were released to the rest of the online gambling community this week, with some interesting final statistics showing significant improvement in spite of losses. Their revenues were up for the year, meaning they brought in more money than they had the previous year, but because of costs and other factors, their overall profits when all was said and done were down compared to 2008. NetPlay is best known in the United Kingdom for their interactive television contributions. The interesting results came as little surprise following trading updates earlier this year that predicted such a turn in the numbers, though the final report was surprising. Their generated revenue, money spent by consumers, was up by ten percent compared to the year-end for 2008, jumping to £21.6 million. It was a sharp contract to the profits category, which showed a loss of £850,000, a huge drop from 2008’s profits of £2.43 million. Management has blamed the unfortunate loss to the cost of their expansion in 2009, which took NetPlay TV to channels STV and Channel Five, an investment for the future that cost them £1.2 million in airtime expenses for the fourth quarter of the year. Another significant cost was the £12.8 million spent on upgrading studios for quality, to be broadcast all over Europe. In spite of the money spent, it was a decision that is still being hailed by NetPlay Chairman Clive Jones, who said it was more than necessary for them to continue competing in a more liberal online gambling market. "The development of the mobile betting solution we are now using for Bingo Stars is a major milestone for the business,” said Martin Higginson, the CEO for the firm. “Trading on ITV is in its very early stages with the mobile application being launched in mid June. We believe the appeal of the mobile text gaming solution as an instant call to action will increase interaction considerably.”

06/25/2010

Online Casino Style: News
Revenue, Costs Up; Profits Down

NetPlay’s full year end results were released to the rest of the online gambling community this week, with some interesting final statistics showing significant improvement in spite of losses. Their revenues were up for the year, meaning they brought in more money than they had the previous year, but because of costs and other factors, their overall profits when all was said and done were down compared to 2008.

NetPlay is best known in the United Kingdom for their interactive television contributions. The interesting results came as little surprise following trading updates earlier this year that predicted such a turn in the numbers, though the final report was surprising. Their generated revenue, money spent by consumers, was up by ten percent compared to the year-end for 2008, jumping to £21.6 million. It was a sharp contract to the profits category, which showed a loss of £850,000, a huge drop from 2008’s profits of £2.43 million.

Management has blamed the unfortunate loss to the cost of their expansion in 2009, which took NetPlay TV to channels STV and Channel Five, an investment for the future that cost them £1.2 million in airtime expenses for the fourth quarter of the year. Another significant cost was the £12.8 million spent on upgrading studios for quality, to be broadcast all over Europe. In spite of the money spent, it was a decision that is still being hailed by NetPlay Chairman Clive Jones, who said it was more than necessary for them to continue competing in a more liberal online gambling market.

"The development of the mobile betting solution we are now using for Bingo Stars is a major milestone for the business,” said Martin Higginson, the CEO for the firm. “Trading on ITV is in its very early stages with the mobile application being launched in mid June. We believe the appeal of the mobile text gaming solution as an instant call to action will increase interaction considerably.”