Market Briefs

Full-Yearly Revenue Forecast Dim for Betbrokers

Betbrokers, a betting brokerage and online gambling operator in London, said it is unlikely to meet market expectations for the fiscal year ending Dec. 31, 2008.

The company said that "a lack of funds in the clearing house account has severely restricted the amount of bets that can be taken."

Wayne Lochner, the company's chief executive, said the lack of funding has had a "detrimental impact" on the company's United Kingdom operation.

However, Winning Edge, Betbrokers' United States subsidiary, continues to trade in line with expectations, it said.

Weekly Statistics from Bloomberg.com

Listing

Low Close: 0.475 pence (1 cent)

High Close: 0.65 pence

Weekly Change: - 26 percent

Market Capitalization: £1.4 million ($2.7 million)

IGT's British Arm Acquires Million-2-1

IGT-UK Gaming Ltd., the United Kingdom subsidiary of International Game Technology, has acquired Million-2-1, a mobile gaming company in Manchester, England.

The acquisition sees Chris Sheffield, chief executive of Million-2-1, become a director of IGT-UK's remote gaming arm. As a director, Mr. Sheffield will manage IGT-UK's mobile gaming, Internet gaming and digital television interests.

Financial details were not disclosed.

International Game Technology last week agreed to acquire Cyberview Technology Ltd., a downloadable server-based gaming specialist, for $76 million.

Weekly Statistics from Bloomberg.com

Listing

Low Close: $30.36

High Close: $33.31

Weekly Change: - 6.1 percent

Market Capitalization: $9.7 million

WorldSpreads Group Reveals 81% Rise in Net Profit

WorldSpreads Group, the Dublin-based spread betting operator, revealed an 81 percent rise in full-yearly net profit to 1.9 million euros, or $2.9 million, from 1.04 million euros.

The company said Wednesday that profit was helped by a strong performance in its recently launched financial derivatives division, as well as increased market volatility, which prompted customers to open accounts.

For the fiscal year ended March 31, 2008, revenue from sports betting totaled 1.3 million euros, or 13 percent of group revenue, down from 2.3 million euros, or 35 percent, in 2006.

Revenue from spread betting, however, grew 148 percent to 10.7 million euros from 4.3 million euros in 2006.

Weekly Statistics from Bloomberg.com

Listing

Low Close: 105.5 pence ($2.08)

High Close: 113 pence

Weekly Change: - 6.6 percent

Market Capitalization: £40.1 million ($78.7 million)

Licensee Revenue Boosts Chartwell's Second-Quarter Performance

Chartwell Technology Inc. has revealed net income of 1.1 million Canadian dollars, or $1.07 million, for the second quarter ended April 30, 2008.

In the year-ago quarter, the company, a software provider in Calgary, Alberta, reported net income of 100,000 Canadian dollars.

Revenue for the second quarter of this year was up 26 percent to 7 million Canadian dollars, versus 5.6 million Canadian dollars during the previous-year period.

The company attributed the year-over-year rise in revenue to license-fee growth in casino and poker of 15 percent and 88 percent, respectively.

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Weekly Statistics from Bloomberg.com

Listing

Low Close: 2.50 Canadian dollars ($2.44)

High Close: 2.75 Canadian dollars

Weekly Change: + 8 percent

Market Capitalization: 46.2 million Canadian dollars

Guoco Once Again Raises Shareholding in Rank

Guoco Pty Ltd., the investment arm of Hong Leong Group Malaysia, on Thursday upped its stake in Rank Group from 12.02 percent to 12.67 percent, or 49.5 million shares.

Since its September 2007 profit warning, Rank has attracted a large share of takeover speculation.

In late March, Genting Berhad, the Malaysia-based investment arm of Genting Group, denied rumors that it would make a $959 million offer for the land-based and Internet gambling operator.

A London analyst covering the I-gaming sector told Interactive Gaming News the prospect of a Genting takeover was unlikely.

Meanwhile, the Richardson family, United Kingdom-based private property investors worth an estimated $993.1 million, has also been quietly building a stake in Rank.

For purposes of reference, the Richardson family holds at least 11 percent in Rank, Genting, 11.3 percent, and Guoco, 12.67 percent.

Weekly Statistics from Bloomberg.com

Listing

Low Close: 77 pence ($1.51)

High Close: 80.5 pence

Weekly Change: + 0.06 percent

Market Capitalization: £313.4 million ($614.6 million)