Morning Brief: Mixed Fortunes

Neteller, the London-listed payments processing group, this morning revealed first-half revenue of $35.9 million. Though interest income declined, both fee revenue and payment gateway income experienced strong growth. The company reported a gross margin of 61.6 percent with a pre-tax profit of $1.2 million.

Playtech Ltd., the I-gaming software developer, this morning reported first-half revenue rose 85 percent to $81.4 million versus the previous-year period. Casino and poker were up 78 percent and 109 percent to $32.6 million and $10.5 million, respectively. Due diligence on the company's marketing affiliate -- which analysts suggest will be a near-term share catalyst -- is progressing satisfactorily.

Regarding yesterday's news on Gaming VC Holdings, the company has declined comment to IGamingNews on questions covering what entity was behind the bid approach and why negotiations broke down.

William Sutjiadi, the chief executive of Mahjong Time in San Diego, answered questions via e-mail about last week's deal with CryptoLogic Ltd. When asked about how the deal would impact revenues, Mr. Sutjiadi told IGN:

"With the legal, unique tournament style mahjong, a large audience base and the commercial models offered through the Mahjong system, we expect to see revenue in Q4 2008."

Visit IGN later today for the full story.

After announcing last week that its subsidiary had gone into administration, Betbrokers announced that the Plc had also been put into administration.

"Until the administration of Betbrokers Limited is completed and/or the Company is able to effect a sale of Winning Edge, it is not possible for this subsidiary to repay a loan to Betbrokers PLC," the company said in a note to the London Stock Exchange today. "Therefore, with regret, the Directors of Betbrokers PLC were left no other choice but to put the Company into Administration."

Wayne Lochner, the chief executive of Betbrokers, told IGN in an e-mail last week that he was unable to comment on the developments.