Revenues and EBITDA on the rise
The UK interacive television gambling specialist NetPlayTV plc has reported an encouraging first quarter result for 2010, posting a positive EBITDA of GBP 200 000 and confirming that trading is in line with expectations for the year.
Gross bets for the period were GBP166 million, up 5.7 percent over Q4 2009 and 32 percent compared to Q3 2009.
Other highlights included additional UK terrestrial TV airtime expenditure totalling GBP 1.2 million in Q4 2009.
Management reported that the swing to a positive EBITDA is a major step forward and follows a period of heavy investment during the second half of 2009 and into the first quarter of 2010 as it secured a programme of partnerships with UK terrestrial broadcasters.
The first quarter of 2010 also saw the NetPlay restructure various parts of its business including moving the Supercasino.com brand from the UK to Alderney at the end of February 2010. The full financial benefit of this move will take effect from Q2 2010.
As a direct result of entering into partnership deals with STV and Five, NetPlay incurred additional TV airtime expenditure of GBP 1.2 million in Q4 2009.
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