24th Jan 2011 07:00
Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction
Date: | 24 January 2011 |
On behalf of: | NetPlay TV plc ('the Company', 'the Group' or 'NetPlay') |
Embargoed until: | 0700hrs |
NetPlay TV plc
Trading Update
Highlights
·; Strong Q4 2010 trading with significant increase in Net Gaming Revenue over Q3 2010
·; Full year 2010 trading in-line with expectations
·; Restructuring successfully completed
·; Cost base stabilised
·; Significant uptake of new iPhone gaming applications
·; Strong start to 2011
NetPlay TV plc (AIM: NPT), the interactive gaming company, is pleased to announce a trading update for the year ended 31 December 2010. After tough trading in Q3 2010, followed by a successful placing in November, and a renewed focus on Netplay's core live casino product, the Company had a strong end to the year. Both Q4 customer deposits and casino Net Gaming Revenue are up significantly in comparison to Q3. This increased sales performance combined with the restructuring of the cost base means that the Company expects the results for the year to 31 December 2010 to be in line with market expectations.
Following the Company's release of the first real money casino app in the UK 'Apple app store' in August 2010, users have been increasing significantly month on month. By the end of December, iPhone users accounted for over 10% of all cash players on the core Supercasino live roulette product.
In Q4 2010, the initial period of the teleshopping trial on ITV1 ended, but following changes to the format and an improvement in performance, the Company has agreed with ITV to continue to run Challenge Jackpot on a rolling monthly contract while further discussions take place.
2011 has started well and the Board is confident that the strong trading performance achieved at the end of 2010 will continue in 2011 and the Company will deliver a solid performance, in line with market expectations.
Commenting on the Trading update Charles Butler, Chief Executive of NetplayTV, said:
"There is no doubt that 2010 was a tough year for Netplay, however, after a successful placing in November, a restructuring of the business, and a renewed focus on our core live casino product, we are pleased with the way the business is now performing. With the Company on a stable footing, we very much look forward to driving forward our core live casino product offering increasing the marketing activity around our Supercasino brand and actively exploring opportunities to launch Supercasino in other territories.
"We are particularly pleased with the uptake of our iPhone application, which is a perfect fit for our business and provides another medium for our customers to play seamlessly whilst watching our games on TV or whilst on the move. With iPad and Android applications firmly on our product roadmap, we believe this will be a very exciting year for mobile, and we look forward to significant growth in this area."
Enquiries:
NetPlayTV plc | www.NetPlayTV.plc.uk |
Charles Butler, Chief Executive Officer | Via Redleaf |
| |
Redleaf Communications | Tel: 020 7566 6700 |
Emma Kane / Rebecca Sanders-Hewett | |
| |
Panmure Gordon | |
Katherine Roe | Tel: 020 7459 3600 |
Notes to Editors:
About NetPlayTV plc
NetPlayTV TV plc is listed on the AIM market of the London Stock Exchange (NPT). NetPlayTV TV operates a number of interactive gaming services under an Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.co.uk. These services can also be viewed 24 hours a day live on Sky Channel 866,, every evening on FIVE, and 6 nights a week on ITV1.
The Company is focused on the delivery of a converged interactive gaming experience allowing its customers to interact with its games on a variety of platforms, TV, Internet and mobile from a common integrated wallet.
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