Netplay annual results: turnover, EBITDA more than doubled
NetPlay TV's non-executive chairman Clive Jones said the interactive gaming business had "come of age" as the company posted a 118% year-on-year increase in turnover to £19.8m for the year ended 31 December 2008, up from £9.1m in 2007.
NetPlay TV’s non-executive chairman Clive Jones said the interactive gaming business had “come of age” as the company posted a 118% year-on-year increase in turnover to £19.8m for the year ended 31 December 2008, up from £9.1m in 2007.
The business also achieved a 241% growth in EBITDA to £2.4m, compared to a £1.7m loss the previous year.
Performance was underpinned by an 80% growth in annual gross bets on its SuperCasino platform to £243m, up from £133m the year previously. Revenue and profit from the Bingos online bingo business it acquired in April 2008 however remained flat, which the company blamed on reorganisation and the integration of staff into its UK operations.
The company revealed new interactive TV games would shortly be launched under the recently acquired Challenge Jackpot brand, following the with Virgin Media TV- Two Way Media deal reported on EGRmagazine.com in April.
Two Way Media’s former chief executive Guy Templer is also to head a new unit focusing on offering its “live” interactive games to retail, TV and online clients on a B2B basis.
NetPlay chief executive Martin Higginson said: “2009 has seen the investment we have made in 2007/08 start to come to fruition. The company has never been better placed to take advantage of the numerous opportunities that lie ahead.”