Friday, March 30, 2012

Bwin.party jumps on good results; Bwin.party earnings up, ready for regulatory changes

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LONDON - Online gaming firm bwin.party digital entertainment leapt into the top spot after it posted a robust set of full year earnings and believes it is well placed to take advantage of regulatory and technological shifts in its industry. Private equity investment firm 3i was another big riser after it revealed in a trading statement that, after a tough start to the year, market sentiment has improved in the last couple of months, leading to a strong performance in the company's investment portfolio - although the rally has come a bit late to have a significant effect on performance in 3i's current financial year, which runs to the end of March. Meanwhile, transport firm FirstGroup (Other OTC: FGROF.PK - news) was the biggest faller after it said lower economic activity in the north of England is putting pressure on its UK Bus business. The group says like-for-like revenues in UK Bus, in the 12 months to the end of March, will be 1.5% ahead of 2010-2011. The North of England and Scotland however are seeing "considerably lower" growth rates and that's where 60% of revenues are generated. FTSE 250 (FTSE: ^FTMC - news) - Risers Bwin.party Digital Entertainment (BPTY) 154.20p +5.47% 3i Group (III) 210.80p +3.33% Ruspetro (RPO) 207.50p +2.52% Drax Group (Frankfurt: A0MK9W - news) (DRX) 537.00p +2.38% Ferrexpo (Stuttgart: A0MRG2 - news) (FXPO) 298.20p +1.95% New World Resources A Shares (NWR) 437.40p +1.67% Kentz Corporation Ltd. (KENZ) 458.30p +1.39% Sports Direct International (SPD) 285.90p +1.31% Kenmare Resources (Irish: JEV.IR - news) (KMR) 49.18p +1.30% Daejan Holdings (DJAN) 3,035.00p +1.13% FTSE 250 - Fallers FirstGroup (Frankfurt: 896516 - news) (FGP) 249.30p -13.77% National Express Group (NEX) 236.80p -6.03% Dixons Retail (Other OTC: DSITF.PK - news) (DXNS) 18.25p -5.24% TalkTalk Telecom Group (TALK) 137.60p -5.10% Barratt Developments (BDEV) 139.00p -4.92% Petropavlovsk (Other OTC: PPLKF.PK - news) (POG) 592.00p -4.67% Go-Ahead Group (GOG) 1,242.00p -4.53% Northgate (Other OTC: NGTEF.PK - news) (NTG) 206.30p -4.40% Centamin (DI) (CEY) 68.05p -4.22% Essar Energy (Dusseldorf: 11224817.DU - news) (ESSR) 145.80p -4.08% NR

Bwin.party earnings up, ready for regulatory changes...

LONDON, March 29 - Bwin.party Digital (BPTY.L), the world's largest listed online gaming company, reported a rise in earnings in its maiden set of results and said it was well-placed to take advantage of regulatory and technological shifts in the gaming industry.

The company, which was formed by the merger of Austria's Bwin and PartyGaming last year, reported a 3 percent rise in clean EBITDA (earnings before interest, tax, depreciation and amortization) to 199.3 million euros ($264.8 million) in 2011.

The Gibraltar-based firm said synergies coming through faster than expected had offset increased gaming duties in regulated markets, pushing earnings up to just shy of consensus analyst estimates of 202 million euros provided by Bwin.party.

"We expect to gain competitive advantage this year from additional scale and improved flexibility that will flow from the integration and migration of our main products to a single technology platform," co-chief executives Jim Ryan and Norbert Teufelberger said in a statement.

Bwin.party said pro forma total revenue inched up to 816 million euros, compared to 814 million euros in 2010, despite the closures of its French casino and the World Cup football tournament in 2010.

The firm said current trading was robust with average gross average daily revenue 2 percent higher than in the fourth quarter of 2011 at 2.93 million euros.

"We have secured strong business partners in the United States ahead of any regulation there and have also applied for a license in Spain which is expected to regulate in the second quarter of this year," Ryan and Teufelberger said.

The company has also applied for a license in the Schleswig-Holstein region of Germany.

The firm said it will add more casino games, improve poker and bingo offerings, and prepare for the UEFA Euro 2012 soccer competition and the London 2012 Olympics.

Bwin.party will pay a final dividend of 1.56 pence per share, making a total of 3.12 pence per share for the year.

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Sunday, March 25, 2012

100th e-gambling license issued by Alderney Gambling Control Commission

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The 100th e-gaming license has been issued by the Alderney Gambling Control Commission (AGCC). It was granted to Relax Gaming Network Limited, a company which develops and maintains casino, poker and bingo software.

Robin Le Prevost, head of e-commerce development for Alderney, said: “Alderney remains at the forefront of e-gaming regulation and leads as one of the most pragmatic and popular regimes in the industry. The 100th licence reaffirms Alderney’s status as the ‘place to be’ for the e-gaming industry.”

Carey Olsen’s e-gaming team was led by partner Mark Dunster and included senior associate Richard Field and associate Tabreez Ahmed.

Advocate Dunster said: “Carey Olsen has played a significant role providing legal advice, including company formation, directorships and licensing guidelines, to a range of companies since the inception of the e-gaming industry in the Channel Islands for over 10 years.

“Carey Olsen now acts for more than half of the current licensees and the 100th licence is a milestone for the AGCC and we’re pleased to have been involved.

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Australasian Gaming Expo Report

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The latest technology in gaming, gambling equipment and pokies machines will be unveiled at the 23rd annual Australasian Gaming expo.

Venue: Sydney Convention & Exhibition Centre, Darling Drive, Darling Harbour

Date: Sunday, August 26, 2012 to Tuesday, August 28, 2012

Around 25 new companies will be exhibiting at the expo this year, taking the total up to 170. As well as the Gaming Equipment you might expect, Categories include Building, Cash Handling, Food Products, Flooring, Furniture, Security and Signage - in what may well be the most complete and up-to-date source of information about Gaming and Hospitality industry supplies anywhere.

About Gaming Technologies Association:

The Gaming Technologies Association is a not-for-profit industry association, established in 1990 for the purpose of promoting the development of the manufacturing resources of Australia. Our members provide technology and equipment to hospitality venues in over 300 jurisdictions around the world. GTA's members are Ainsworth Game Technology, Aristocrat Technologies, Aruze Gaming Australia, Bally Australia, IGT (Australia), Konami Australia, ShuffleMaster Australasia and WMS Gaming Australia. Associate members include Independent Gaming. Affiliate members include eBet Limited, Interblock Asia Pacific, JCM Global, Paltronics Australasia, The Bright Group and Voyager Gaming. GTA hosts and operates the Australasian Gaming Expo

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