Nambling Notes - April 18, 2008

Neteller, the London-listed payments processor, today reported a 48 percent decline in first-quarter total revenue to $16.98 million from $32.6 million in the same period last year. The company also said, however, that it expects growth in key European and Asia Pacific markets.

Reefer Poker, the online poker site targeted at marijuana enthusiasts, is celebrating Earth Day by planting one tree in Brazil for every person that participates in the its Earth Day tournament on April 22. Registration costs $2.00, plus a 20 cent registration fee.

Ladbrokes, the London-based bookmaker, said Wednesday it would open 70 shops in Spain by the end of the year. The company, which on Jan. 8 announced a joint venture with Cirsa Slot Corp., the Barcelona-based operator, said its first shop would open in Madrid in about two weeks. William Hill, rival to Ladbrokes, and its Spanish partner, Codere, recently announced plans to open 70 shops in Spain as well.

The European Commission has decided to issue formal comments on the Italian draft decree on remote gaming, which means all EU member states are welcome to enter concerns and opinions on the law. The comment period prevents Italy from adopting the decree in its current format before April 29, 2008 and should encourage Italy to amend the draft law.

William Hill said Friday that it will release an interim management statement on April 24.

Redbet Holding, the Sweden-based betting exchange, today posted a first-quarter profit of 8.3 million Swedish kronor, or $1.3 million, compared with 300,000 Swedish kronor, or $50,000, for the same period last year. The company's stock climbed 36.2 percent on the Stockholm Stock Exchange today upon the news, closing at 94 Swedish kronor, or $15.95.

In London today, BSkyB was up 10.50 to 554.50, Gaming VC was up 5p to 265, Playtech closed at 239, up 8p, William Hill was up 6.75p to 403.75 and 32Red closed down 2.50p to 28.50.