25 May 2012

NetPlay casino numbers up

11/10/2011 Ben Jaglom

Gambling venture NetPlay TV (NPT) has issued a trading update enthusing on a 57.3 per cent increase in new casino players.

In an update for the third quarter of 2011 the AIM-quoted venture declares that it had 24,686 new players over the period ( 2010: 15,691) while 23,426 'active casino players' were reported (2010: 16,172). Netplay says it expects results for the year to December to be 'ahead of market expectations'.

The business, which operates a number of operations including Bingos.co.uk and Supercasino.com as well as a number of TV-based gambling services such as Live Roulette, says it is 'continuously' focusing on 'how best to maximise the number of player acquired through the post-midnight teleshopping TV window'. Netplay indicates that over the period it had 'carried out tests on pre-midnight TV advertising spots which produced positive results'.

Onn its mobile strategy, the company enthuses that revenues from its Supercasino mobile service increased 500 per cent on the prior year as a result of its iPhone app, something it argued 'supports the company's strategy of acquiring customers directly into the iPhone via the TV'.

Following the announcement analysts at house broker Panmure Gordon have increased their forecasts. Panmure is forecasting pre-tax profits of £500,000 (for earnings of 0.27p a share) for  2011. In 2012 profits of £1.1 million (earnings: 0.46p a share) are penciled in.

Last recommended by Growth Company Investor this August at 8.75p the shares currently trade at 9.63p. Having made considerable strides in bolstering its mobile offering and with player numbers on the up we retain our speculative buy rating.

Tags: Gambling, Gaming on AIM, Mobile gambling

Sector: Media

Companies: Netplay TV

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