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Christopher A. Krafcik Gaming Guru - Page 20Party to Cut Staff in Gibraltar5 September 2008
As PartyGaming continues to reposition its operation following its United States withdrawal, the company has confirmed with IGamingNews that job cuts will be made at its Gibraltar headquarters.
John Shepherd, director of corporate communications, could not release the number of planned redundancies but ... (read more)
Morning Brief: B-to-B Bout4 September 2008
For those that haven't followed the Playtech acquisition news closely, Chief Executive Mor Weizer indicated during yesterday's analyst and investor conference that the London company may be open to acquiring other of its affiliate businesses in an effort to offer a "full turnkey solution."
IGN's Take: We ... (read more)
Neteller Slow but Sure in Diversification4 September 2008
While Neteller intends to reduce gradually its reliance on Internet-gambling-related transactions, 83 percent of first-half total revenue still came by way of the company's long-standing online bedfellow.
The money-transfer company revealed revenue of $35.9 million -- unchanged against the comparable ... (read more)
Morning Brief: Mixed Fortunes3 September 2008
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 ... (read more)
Fervent M&A Talk Accompanies Upbeat First Half from Playtech3 September 2008
Playtech Ltd. this morning revealed adjusted net profits of $57.8 million for the first half of the 2008 fiscal year, up 90 percent against the comparable period last year.
Total revenue rose 85 percent to $81.4 million, with casino and poker coming in at $58 million and $22 million -- up 78 percent and ... (read more)
Analysts Cautious on Crypto Subsidiary's Chinese Deal3 September 2008
Mahjong Time, a minority-owned subsidiary of CryptoLogic Ltd., has done a deal in China to offer online, tournament-style mah-jongg across mainland Internet cafes.
"Mahjong Time has signed a new licensee that gives us unprecedented access to China," William Sutjiadi, the chief executive of Mahjong Time in ... (read more)
Morning Brief: Buyout Breakdown?2 September 2008
Neteller, the London-listed payments processing group, has agreed to supply its suite of payment products to CardSave, a United Kingdom company offering financial services to independent retailers.
Incidentally, Daniel Stewart & Co. of London has a preview note out on Neteller's interims, which are due to ... (read more)
Market Briefs2 September 2008
Betbrokers Financial Future Uncertain
Trading in Betbrokers, a betting brokerage and online gambling operator in London, was suspended Tuesday after the company announced Friday that its subsidiary, Betbrokers Ltd., was placed into administration.
The news comes as little surprise following a June ... (read more)
Morning Brief: A Trillion Questions29 August 2008
For those following the dispute between Boss Media A.B. and Trillion Ltd., legal sources have confirmed that the Maltese judge in the case has yet to pass his decision to the registry.
"We are checking on a daily basis to see if there are any updates, but all files are still in court and we cannot see them ... (read more)
Mixed Results for Party as Poker Lags Casino Growth29 August 2008
While PartyGaming's year-over-year first-half metrics showed growth across all revenue segments -- including the newly added bingo stream -- the company and its analysts were concerned by soft growth trends in sports betting and stagnation in its flagship poker offering.
Poker revenue came in at $153.9 ... (read more)
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