London-based interactive gaming provider NetPlay TV has revealed a 286 percent increase in revenues for the first half of 2008 and added that it would soon launch bingo operations in Sweden and Germany.
NetPlay TV reported revenues of $18.32 million for the first six months of 2008 alongside gross profits of $5.57 million and a 308 percent increase in aggregate bets to $287.58 million.
In addition, the firm revealed earnings before interest and tax of $1.81 million, which is considerably better than the $1.62 million loss reported for the same period last year. NetPlay TV stated that its total active gaming customer base increased to over 24,000 with 62,000 mobile subscribers including the 7,600 acquired following the purchase of Rubberduck in March.
“To date, 2008 has been a positive and transformational year for the company,” said Martin Higginson, Executive Chairman and Chief Executive Officer for NetPlay TV.
“In the first half of the year we generated a profit before tax and, with the acquisition of the Bingos.com business, we have further strengthened our position as the market leader in the converged multi-platform gaming arena.
“The group is cognisant of the current financial climate and, while we continue to be pleased with the overall growth in betting patterns, we continue to focus on the cost savings that can be made across all areas in order to deliver improved margins where possible. The board believes that the group is well positioned to build on its current assets and is confident about the year ahead.”
NetPlay TV also revealed that it would soon launch television and online bingo in one product for Sweden and Germany during the upcoming fourth quarter. It also announced plans to commence a celebrity television bingo program in the UK next month featuring celebrities hosting the daily show on Sky television.