http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Wed, 22 Nov 2017 07:33:27 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - NetPlay TV to cash in its chips ]]> http://www.proactiveinvestors.co.uk/companies/news/172546/netplay-tv-to-cash-in-its-chips-172546.html It’s time to cash in the chips at NetPlay TV PLC (LON:NPT), where Swedish rival Betsson has made an agreed bid for the interactive gaming company.

The directors of the UK-listed company are recommending shareholders accept Betsson’s 9p a share offer, which values NetPlay at around £26.4mln.

Shares in NetPlay closed at 7.9p yesterday.

Directforce Trading, which controls 27.83% of the issued share capital of NetPlay, has already indicated it intends to accept the offer, while Henderson Global Investors, with a 9.5% stake, is also on board so although the offer requires 75% acceptance to go through, this one looks done and dusted.

"NetPlay operates three brands, each with strong offerings, and we believe that applying Betsson's experience of operating successful casino brands will add to NetPlay's earnings and growth. We have a long-term view on NetPlay and will achieve significant cost synergies and operational improvements over time. Part of Betsson's acquisition strategy is to add volume to its scalable Techsson platform and to increase the share of regulated revenue," said Ulrik Bengtsson, chief executive and president of Betsson.

Bjarke Larsen, chief executive officer of NetPlay said: “With the changing market dynamics and as the market continues to consolidate, we believe now is the right time to take advantage of this opportunity to realise value for all of our shareholders."

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Thu, 02 Feb 2017 07:50:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/172546/netplay-tv-to-cash-in-its-chips-172546.html
<![CDATA[News - NetPlay TV is operating a cash machine ]]> http://www.proactiveinvestors.co.uk/companies/news/165819/netplay-tv-is-operating-a-cash-machine-165819.html Interactive TV gaming company NetPlay TV PLC (LON:NPT) is quickly developing a second string to its bow.

Results for the first half of 2016 showed the company’s business-to-business (B2B) unit making a first time contribution of £2.1mln to revenue and £0.4mln to adjusted underlying earnings (EBITDA).

To put that into context, revenue for the whole group was up £2mln year-on-year at £14.7mln while adjusted EBITDA was £0.4mln higher at £1.7mln.

The B2B operating segment, which is a specialist online digital marketing, product development and technology business, was said to have performed ahead of expectations.

The division provides a complementary and profitable revenue stream while also driving traffic to NetPlay TV's brands.

The division was acquired in August of last year and the board reckons there are plenty of significant opportunities for growth in the coming year and beyond.

While the B2B unit is growing nicely, the business-to-consumer gaming side was broadly stable, with average revenue per depositing player decreasing 2% year-on-year to £267 from £273, as a result of a slightly weaker second quarter performance by the casino-only brands.

The group said it has already kicked off a programme to ginger-up its key performance indicators (KPIs), and the benefits of this initiative should be felt in the second half.

The programme includes a staggered roll-out of its business intelligence data-room, which is an in-house “one stop shop” for all player data and analysis. According to the group’s broker, Shore Capital, this should help to deliver improved KPIs, especially around customer acquisition costs and player lifetime values.

Marketing expenditure increased by £0.23mln to £4.73mln, reflecting the growth in new depositing players, with customer acquisition costs (CPA) ahead by a modest 2% to £173 on its casino-only brands, despite increased competitive activity in the UK, noted Shore Capital.

Marketing expenditure as a percentage of revenue increased from 35.3% to 37.7% but Shore would expect this to trend back towards 35% in the second half of the year.

Meanwhile, the company has the comfort blanket of a three-year partnership agreement with ITV, which was renewed earlier this year following the contract renewal last year with Channel 5.

“In the second half the group is investing in its TV content, including the shows aesthetics, HD [high definition] cameras and additional roulette game variants,” Shore noted.

The broker took note of the softer second quarter trading and lowered its full-year EBITDA estimate from £3.32mln to £3.21mln, which would still represent a sharp rise on 2015’s £2.69mln.

The broker said this was a conservative stance and noted the company had declared trading had picked up again since the second quarter.

The business is highly cash generative, and earlier this year NetPlay cheered shareholders with a special dividend of 0.68p in addition to a final dividend for 2015 of 0.34p. This year, at the interim stage, the dividend was held at 0.22p.

“These results show that the momentum delivered in the last year has continued into 2016 and we are very pleased to be reporting growth in overall group revenue and profit,” said Bjarke Larsen, the chief executive of NetPlay.

"The group's operational performance in the period has also been significant with not only the renewal of the ITV relationship, but also product enhancements, new site roll-outs and, post period, the launch of the AppleTV application.

"We set out our growth strategy at the beginning of the year and are focused on continuing to deliver against this. There has been significant M&A [mergers & acquisitions] activity in the industry, and the group, with its solid balance sheet, is well placed to pursue those opportunities that the board believes will be earnings enhancing," Larsen added.

Shares took a biffing on the basis of the soft second quarter trading but Shore remains a fan of the stock.

“NetPlay holds a unique position in the gaming industry with its TV content enabling the group to deliver attractive acquisition costs and player yields. Furthermore, cash generation is robust and the group retains approaching a third of its market capitalisation in cash,” said Shore analyst Greg Johnson.

“At just 5.7x 2016F EBITDA and 0.6x revenue NetPlay remains a valuation anomaly in our view and we see fair value closer to one times revenue - or 14p per share,” Johnson opined.

The shares were off 0.35p at 8.9p in afternoon trading.

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Tue, 13 Sep 2016 14:14:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/165819/netplay-tv-is-operating-a-cash-machine-165819.html
<![CDATA[News - NetPlay TV's B2B unit shines in solid first half ]]> http://www.proactiveinvestors.co.uk/companies/news/165811/netplay-tv-s-b2b-unit-shines-in-solid-first-half-165811.html Sales and profits were up in the first half of the year at gaming group NetPlay TV PLC (LON:NPT), with its business-to-business (B2B) unit shining.

The company, which specialises in those gambling games usually seen on late night telly, posted a 15% increase in net revenue to £14.7mln from £12.7mln in the first half of the previous year.

There was a 3% increase in gamers who have money on deposit with the firm, and a similar increase in the number of those who are actively playing on NetPlay’s platform.

Adjusted underlying earnings (EBITDA) surged 31% to £1.7mln from £1.3mlm the previous year, while adjusted profit before tax jumped 30% to £1.4mln from £1.1mln.

The company highlighted a strong contribution from its B2B operating segment with £2.1mln of revenue and £0.4mln of adjusted EBITDA, which it said was ahead of expectations.

The interim dividend was maintained at 0.22p.

“These results show that the momentum delivered in the last year has continued into 2016 and we are very pleased to be reporting growth in overall group revenue and profit,” said Bjarke Larsen, the chief executive of NetPlay.

"The group's operational performance in the period has also been significant with not only the renewal of the ITV relationship, but also product enhancements, new site roll-outs and, post period, the launch of the AppleTV application.

"We set out our growth strategy at the beginning of the year and are focused on continuing to deliver against this. There has been significant M&A [mergers & acquisitions] activity in the industry, and the group, with its solid balance sheet, is well placed to pursue those opportunities that the board believes will be earnings enhancing," Larsen added.

House broker Shore Capital said it was a solid set of results.

Factoring in depreciation, amortisation and interest it is forecasting full-year profit before tax of £2.64mln, which would  represent an 18% increase over last year.

“NetPlay holds a unique position in the gaming industry with its TV content enabling the group to deliver attractive acquisition costs and player yields. Furthermore, cash generation is robust and the group retains approaching a third of its market capitalisation in cash,” said Shore analyst Greg Johnson.

“At just 5.7x 2016F EBITDA and 0.6x revenue NetPlay remains a valuation anomaly in our view and we see fair value closer to one times revenue - or 14p per share,” Johnson opined.

The shares were off 0.46p at 8.79p in morning trading.

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Tue, 13 Sep 2016 11:01:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/165811/netplay-tv-s-b2b-unit-shines-in-solid-first-half-165811.html
<![CDATA[Media files - NetPlay TV PLC’s core business is “strong and stable”, says boss ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/4797/netplay-tv-plcs-core-business-is-strong-and-stable-says-boss-4797.html Mon, 21 Mar 2016 10:54:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/4797/netplay-tv-plcs-core-business-is-strong-and-stable-says-boss-4797.html <![CDATA[News - NetPlay TV PLC pays special divi as subscribers roll in ]]> http://www.proactiveinvestors.co.uk/companies/news/123901/netplay-tv-plc-pays-special-divi-as-subscribers-roll-in-123901.html NetPlay TV PLC (LON:NPT) has rewarded shareholders with a special dividend as the number of players taking part in its late-night TV casino games rose sharply.

Momentum has continued into the current year, the gaming group added, with a 26% rise in new players and a 16% rise in active payers in the first three months of 2016.

Total net revenue was also 18% higher than this time a year ago, the company said.

New subscriber growth was strong in 2015 as well, with a 17% rise to 88,551 and a 14% pick-up in the number of active players to just shy of 116,000.

For 2015 overall, revenues were £26.3mln, down from £27.4mln, while pre-tax profits recovered to £624,000 from £93,000 after one-off charges had depressed the previous year.

Adjusted underlying profit [EBITDA] was £2.7mln (2014: £3.6mln). Cash at the year-end was £13mln .

The special dividend is 0.68p and in addition to an final ordinary payment of 0.34p.

Bjarke Larsen, chief executive, said:  "We have delivered significant strategic and operational progress in the year, resulting in adjusted EBITDA at the top end of market expectations.

"We successfully navigated the impact of the UK Point of Consumption duty as a result of the initiatives implemented at the end of 2014 and positioned the company for future growth."

The key indicators remain strong with adjusted EBITDA increasing by £1.8mln on a like-for-like basis, he added.

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Mon, 21 Mar 2016 09:01:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/123901/netplay-tv-plc-pays-special-divi-as-subscribers-roll-in-123901.html
<![CDATA[News - NetPlay secures ITV airtime until 2019 ]]> http://www.proactiveinvestors.co.uk/companies/news/121334/netplay-secures-itv-airtime-until-2019-121334.html Late-night TV casino group NetPlay TV (LON:NPT) told investors it has secured airtime on ITV for three additional years.

The group’s Jackpot247 is now contracted, in the late night commercial teleshopping slots, with the free-to-air broadcaster until 2019. The relationship with ITV has been running since 2010.

"I am delighted to announce the continuation of what will now be nearly a decade long partnership with ITV,” said chief executive Bjarke Larsen.

“We look forward to working with them over the coming years, and continuing the TV focussed business model.

"TV continues to be NetPlay's USP and at the core of our strategy.

“The combination of engagement through TV with the development of our mobile platforms is driving customer acquisition and retention. By continuous evolution of the production, style and format of our shows we ensure that NetPlay remains at the forefront of interactive gaming."

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Thu, 14 Jan 2016 08:33:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/121334/netplay-secures-itv-airtime-until-2019-121334.html
<![CDATA[News - NetPlay terminates talks over football pools business ]]> http://www.proactiveinvestors.co.uk/companies/news/121149/netplay-terminates-talks-over-football-pools-business-121149.html Interactive TV gaming firm NetPlay TV (LON:NPT) told investors it had withdrawn from talks with betting firm Sportech (LON:SPO) over buying its football pools business.

It comes as it emerged that Sportech has received a "number of proposals" for the pools business and invited parties to submit final proposals by mid-January 2016.

"After careful consideration the company has decided not to enter into this process and has therefore terminated discussions," said NetPlay in a brief regulatory statement.

Trading in NetPlay shares will therefore be lifted from suspension this morning.

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Mon, 11 Jan 2016 08:09:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/121149/netplay-terminates-talks-over-football-pools-business-121149.html
<![CDATA[News - NetPlay in talks to buy Sportech's football pools business ]]> http://www.proactiveinvestors.co.uk/companies/news/120699/netplay-in-talks-to-buy-sportech-s-football-pools-business-120699.html NetPlay TV (LON:NPT) has confirmed press speculation it is in talks to acquire the football pools business of Sportech (LON:SPO).

The interactive gaming company cautioned, however, that talks are at a very preliminary stage and issued the usual caveat that there is no guarantee the transaction will take place.

If it does happen, however, then it would constitute a reverse takeover under the rules of the Alternative Investment Market (AIM); as such, trading in the company's shares on AIM has been suspended pending the outcome of the talks.

Shares in Sportech rose 5% to 59.875p on the news while Netplay's shares were down 0.11p on the day at 7.27p before being suspended.

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Mon, 21 Dec 2015 11:40:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/120699/netplay-in-talks-to-buy-sportech-s-football-pools-business-120699.html
<![CDATA[Media files - Netplay TV chief confident marketing gamble will pay off ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/4151/netplay-tv-chief-confident-marketing-gamble-will-pay-off-4151.html Thu, 17 Sep 2015 07:50:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/4151/netplay-tv-chief-confident-marketing-gamble-will-pay-off-4151.html <![CDATA[News - Netplay TV rides out the storm caused by new tax ]]> http://www.proactiveinvestors.co.uk/companies/news/110812/netplay-tv-rides-out-the-storm-caused-by-new-tax-110812.html ---ADDS SHARE PRICE---

The progress of Netplay TV (LON:NPT) was derailed somewhat by the introduction of the new point of consumption tax that has been levied on all online gaming.

The company, which hosts roulette on ITV, Channel 5 and Sky, reported a year-on-year £1mln slide in adjusted pre-tax profit in the first half, which fell to £1.1mln.

By contrast, betting duties in the six months to June rose to £1.9mln from £400,000 in the second half of 2014 and £100,000 a year ago.

To mitigate the impact, the group cut its marketing expenses by 24% to £5.9mln, it also very excited by the £3.2mln acquisition of Otherside Inc, a digital marketing firm that has been bought to help increase its customer base.

Being profitable, the new business will also have a positive impact on earnings when the next results are published.

“We're excited about the opportunities that the acquisition of Otherside brings to the group initially providing a profitable revenue stream whilst adding to our capability in driving traffic to NetPlay's brands once the integration is complete,” said chief executive Bjarke Larsen.

“This alongside the group's solid marketing performance and opportunistic acquisition strategy supported by a robust cash position gives us confidence for the year ahead and beyond."

Netplay is currently sitting on £15.8mln of cash – which represents more than half the firm’s market capitalisation.

Despite the decline in profitability, the firm maintained its dividend at 0.22p a share.

The shares, up 35% in the year to date, marked time at 9.75p.

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Tue, 15 Sep 2015 14:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/110812/netplay-tv-rides-out-the-storm-caused-by-new-tax-110812.html
<![CDATA[News - Netplay TV shares up as extends deal with ITV ]]> http://www.proactiveinvestors.co.uk/companies/news/45940/netplay-tv-shares-up-as-extends-deal-with-itv-54819.html  

Shares in interactive gaming firm NetPlay TV (LON:NPT) rose after it struck a deal to extend its live broadcasts on ITV (LON:ITV).

The firm has inked a new three year broadcast agreement with the television channel.

The agreement will see NetPlay increase its live broadcast on ITV to six nights a week from Monday to Saturday, and will provide the company with access to ITV's online inventory, it said.

"The broadened relationship complements our approach of targeting new customers via Mobile, TV and Online," it added.

NetPlay TV's chief executive Charles Butler said: "I am delighted to announce our new three year deal with ITV. We have been working with ITV since 2010 and this new agreement will significantly increase our customer reach.

"It is testament to the success of the format to date and will reinforce our proven strategy of using TV to target new customers. We look forward to working with ITV and further building on the significant success that has been achieved to date."

Shares rose 4.76% to stand at 19.25p.

 

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Fri, 15 Mar 2013 09:26:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/45940/netplay-tv-shares-up-as-extends-deal-with-itv-54819.html
<![CDATA[News - NetPlayTV signs new five year Supercasino deal with Channel 5 ]]> http://www.proactiveinvestors.co.uk/companies/news/29120/netplaytv-signs-new-five-year-supercasino-deal-with-channel-5-34807.html Interactive gaming firm NetPlayTV (LON:NPT) today announced the signing of a new five year broadcast agreement with Channel 5.

It said the new deal follows the strong performance of the group’s Supercasino brand, which includes a TV show that airs from midnight to 4 am on Channel 5, over the past two years. Using the television show as a customer acquisition tool has proved to be a successful model, it added.

"NetPlayTV's relationship with Channel 5 continues to go from strength to strength and this new five year agreement is further testament to this,” said chief executive Charles Butler.

"TV has continued to perform well in terms of both the acquisition of new customers and increasing existing customer loyalty. 

“This new agreement will provide continuity of access to a key source of customer acquisitions, both via the web as well as directly into iPhone, which is a channel to market where we are experiencing significant growth.  This milestone will enable the Group to further develop its position as the UK's largest interactive TV gaming Company."

The new deal also adds further advertising presence on Channel 5 too, in addition the current 23.5 hours teleshopping airtime per week.

Channel 5’s commercial sales director adedd: "We are really pleased with how our partnership is progressing with NetPlayTV, and the results that their show has produced so far.

"We are looking forward to growing the Supercasino brand together and creating further value in the relationship between the two companies."

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Wed, 26 Oct 2011 07:49:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/29120/netplaytv-signs-new-five-year-supercasino-deal-with-channel-5-34807.html
<![CDATA[News - Netplay TV expects year end results ahead of market expectations ]]> http://www.proactiveinvestors.co.uk/companies/news/28612/netplay-tv-expects-year-end-results-ahead-of-market-expectations-34189.html Interactive gaming specialists Netplay TV (LON:NPT) expects its year end results to be ahead of market expectations after it reported a strong performance in the third quarter this year.

Following on from a positive first half, the firm's performance has continued to improve, it said in today's trading update.

It saw a 57.3 per cent increase in new casino players to 24,686 in Q3 this year compared to 15,691 players for the third quarter in 2010, it revealed.

The firm added that it was continuing to pursue methods of increasing revenues from its 31.5 hours of terrestrial TV per week - particularly by acquiring new customers directly via mobile.

"This strategy is proving to be effective with Supercasino mobile revenue up over 500 percent on Q3 2010," it said.

"This significant increase in mobile revenue is the result of the introduction of our new iPhone application in Q3 2010, and supports the company's strategy of acquiring customers directly into the iPhone via the TV."

Netplay is also focusing on how to maximise players acquired through the post midnight teleshopping TV window, and during Q3 said it carried out  tests on pre-midnight TV advertising spots which produced positive results.

The company said it will be further increasing marketing expenditure on TV advertising in the fourth quarter.

In August this year, the company revealed that it had turned a corner, into profitability, as it released its results for the six months to June 30 this year.

The group had endured a tough 2010 in which it had to restructure its business, after a new gaming format failed to live up to expectations. Netplay subsequently refocused its business on its core ‘live’ casino products.

During the first half, the company's revenues came in at £10.59 million, which is in-line with the same period last year. However earnings (EBITDA) and profits were much improved.

The group reported earnings of £1.69 million which represented a significant turnaround compared with the 0.84 million loss in the first half of last year. Similarly pre-tax profit came in a £0.37 million, compared to a £9.8 million loss in H1 2010.

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Tue, 11 Oct 2011 08:03:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/28612/netplay-tv-expects-year-end-results-ahead-of-market-expectations-34189.html
<![CDATA[News - NetPlay - City brokers upbeat on interactive gaming firm ]]> http://www.proactiveinvestors.co.uk/companies/news/26284/netplay-city-brokers-upbeat-on-interactive-gaming-firm--31363.html City broker Panmure Gordon was upbeat on NetPlay TV's  (LON:NPT) half year results today and upgraded its rating from "hold" to "buy" saying the share price could increase by around 31 percent.

The broker upped its earnings forecasts for the interactive gaming company and increased its target price to 11 pence from 9 pence (current price: 8.75 pence).

Daniel Stewart analyst Michael Campbell also liked what he called a "strong" set of results, adding that he saw a strong case for earnings upgrades given the momentum of the business.

The company told investors this morning that it had turned a corner, into profitability, during the first six months of 2011, having endured a tough 2010 in which it had to restructure its business.

A new gaming format had failed to live up to expectations and NetPlay then refocused its business on its core ‘live’ casino products.

During the period to 30 June, NetPlay said its revenues came in at £10.59 million, which was in-line with the same period last year. However, eye-catchingly, earnings (EBITDA) and profits were much improved.

The group reported earnings of £1.69 million which represents a significant turnaround compared with the 0.84 million loss in the first half of last year.

Similarly pre-tax profit came in a £0.37 million, compared to a £9.8 million loss in H1 2010.

The company's chairman Clive Jones had said: "The return to profitability, cash generation and growth in our KPIs are a clear illustration of the benefits the restructuring has brought, and is a testament to the strength of the team that we now have in place.

"We are looking to the future with confidence and continue to explore opportunities to leverage our industry expertise and TV production facilities to facilitate further expansion in both the UK and overseas."

Panmure analyst Simon French said he had upgraded his estimate for 2011 EBITDA from £2.1m to £2.5million and EBITDA for 2012 from £2.8 million to £3.1 million.

"The group’s performance has been transformed in the UK market and it is exploring expansion opportunities in Italy, Spain and Holland," he said.

He added that casino had delivered around 93 percent (£9.8mln) of first half revenue, casino sign-ups had  increased 20.4 percent to 40,134 and active casino players increased 13.9 percent  to 35,689.

French added that current trading was strong, with July's key performance indicators significantly ahead of July 2010, as was revenue.

"We expect the group to up weight marketing spend in H2 and explore expansion opportunities in Italy, Spain and Holland. Nevertheless, the group is confident of delivering a strong set of results for the full-year."

In today's statement, chief executive of NetPlay, Charles Butler said: “The second half of the year has started well with July revenue significantly ahead of July last year. The group continues to see the benefits of the restructuring and focus on the core live casino product with strong KPIs and continued investment in effective marketing.”

Daniel Stewart analyst Michael Campbell added: "Given the strong set of 1H11 results we believe the FY11 consensus EBITDA £2.1 million is achievable.

"In fact we see a strong case for earnings upgrades given the momentum in the business. This combined with the robust results today we believe should lead to an improvement in the rating of the stock."

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Mon, 01 Aug 2011 12:30:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/26284/netplay-city-brokers-upbeat-on-interactive-gaming-firm--31363.html
<![CDATA[News - Netplay TV turns into profitability in H1 ]]> http://www.proactiveinvestors.co.uk/companies/news/26262/netplay-tv-turns-into-profitability-in-h1-31340.html  

Interactive TV gaming company NetPlay TV (LON:NPT) has revealed that it turned a corner, into profitability, during the first six months of this year.

The group endured a tough 2010 in which it had to restructure its business, after a new gaming format failed to live up to expectations. Netplay subsequently refocused its business on its core ‘live’ casino products.

During the first half, ended 30 June 2011, NetPlay’s revenues came in at £10.59 million, which is in-line with the same period last year. 

However earnings (EBITDA) and profits were much improved.

The group reported earnings of £1.69 million which represents a significant turnaround compared with the 0.84 million loss in the first half of last year. Similarly pre-tax profit came in a £0.37 million, compared to a £9.8 million loss in H1 2010.

"We are very pleased to report a strong first half,” said chairman Clive Jones.

“The return to profitability, cash generation and growth in our KPIs are a clear illustration of the benefits the restructuring has brought, and is a testament to the strength of the team that we now have in place.

"We are looking to the future with confidence and continue to explore opportunities to leverage our industry expertise and TV production facilities to facilitate further expansion in both the UK and overseas."

Zooming in on the group’s activities NetPlay revealed that total casino revenues were up 10.7 percent to £9.1 million and the number of active casino users has increased by 13.9 per cent to 35,689.

Crucially sign-ups for cahino players has increased by more than 20 per cent to 40,134 during the period.

Speaking about the group’s trading in the current period chief executive Charles Butler said: “The second half of the year has started well with July revenue significantly ahead of July last year. The group continues to see the benefits of the restructuring and focus on the core live casino product with strong KPIs and continued investment in effective marketing.”

He added: “With the UK casino business now performing well, the group is exploring opportunities for geographical expansion in Italy and potentially other territories such as Spain and the Netherlands pending legislation and a workable tax regime. This will allow the Group to leverage on its existing knowledge, cost base and TV production facilities.

“The group believes that with this continued performance expected in the second half, a strong set of results will be achieved for the full year.”

 

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Mon, 01 Aug 2011 07:34:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/26262/netplay-tv-turns-into-profitability-in-h1-31340.html
<![CDATA[News - NetPlay carries positive momentum into second quarter ]]> http://www.proactiveinvestors.co.uk/companies/news/25142/netplay-carries-positive-momentum-into-second-quarter--30045.html Gaming firm NetPlay TV (LON:NPT) will reveal today that the growth trend seen in the first quarter this year has continued into Q2.

The firm is holding its AGM this morning, in which it will say that the growth trend has continued into the second quarter - up to and including June 28.

The number of active casino players for this quarter was 21,156 -  up 21.8 percent year on year. (In Q2, 2010 the number of players stood at 17,371).

Sign-ups increased by 26.8 percent to 20,691 (Q2 2010: 16,313), the firm will disclose.

"In what is historically a more quiet quarter, we are encouraged that the strong start to 2011 has continued into Q2," chairman Clive Jones will tell the meeting.

"The positive momentum we have seen continuing into Q2 has been very encouraging, giving us added confidence for the year ahead and we look forward to providing a further update at our interims in the coming weeks."

The chairman will also say: " The company continues to focus on driving customer acquisitions via iPhone with active players in Q2 accounting for more than 13 percent of all Supercasino.com active players.

"The iPad application is currently going through final testing and the company is looking forward to increased smartphone and tablet penetration in Q3."

On 31 May this year, when it revealed its 2010 full year results, NetPlay said it had seen a 22 percent increase in active casino players in the first quarter of 2011 compared to the previous three months  -  Q4, 2010.

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Thu, 30 Jun 2011 08:21:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/25142/netplay-carries-positive-momentum-into-second-quarter--30045.html
<![CDATA[News - Positive start to the year for a leaner and more focused NetPlay - Panmure ]]> http://www.proactiveinvestors.co.uk/companies/news/24128/positive-start-to-the-year-for-a-leaner-and-more-focused-netplay-panmure-28816.html Television and online gambling business NetPlay TV (LON: NPT) is now leaner, more focused and “on a much improved trajectory”, according to house broker Panmure Gordon after the firm announced its results for 2010.

Panmure reiterated its hold recommendation and nine pence target for the company’s shares, which were trading at that price at midday today.

NetPlay said it had a positive start to 2011 with it seeing double-digit percentage increases in the number of new players who use its services during the first quarter.

According to Charles Butler, NetPlay’s CEO, the firm saw a 15 per cent increase in new casino players during Q1 2011, compared with Q4 2010, while active casino customers were up by 22 per cent. 22 per cent of all the sign-ups for NetPlay’s Supercasino.com offering came via the iPhone app, demonstrating the increasing popularity among punters of mobile platforms for gambling.

“These encouraging KPIs [key performance indicators], combined with a restructured management team and a successful cost restructuring, have seen the group return to positive EBITDA and underpin the board’s confidence in the outlook for the current year,” he added.

Panmure added that it believes the opening of the Italian online casino market, now anticipated in the third quarter of this year, will provide the first opportunity for NetPlay to replicate its proven TV-based gaming model outside of the UK.

Revenues at NetPlay increased 7.1 per cent in 2010 to £19.8 million, while the firm made an EBITDA loss of £2.8 million (2009: £1.3 million). The firm’s total loss was £13.7 million (2009: £10 million).

Casino revenue made up the bulk of NetPlay’s total revenues, contributing £17.4 million – an increase of 21.8 per cent over 2009.

Revenue from the firm’s Bingo operation fared less well, falling 45 per cent to £2.5 million due to a reduction in new customer acquisitions. NetPlay said that, although Bingo is not its core focus, it would continue to support the operation and expected it to generate positive EBITDA this year.

Butler said that since the home computing market is being transformed with the mass introduction of smartphones and tablets such as the iPad, the firm’s business model would be based on a “converged live casino gaming experience whether at home or on the move”. The firm will offer iPhone and tablet-based casino gaming to its existing customer base while also targeting a new customer segment through customer acquisition.

NetPlay plans to launch its own iPad application by the end of June.

Panmure estimates £2.1 million in adjusted EBITDA for NetPlay during 2011, with a pre-tax loss of £0.9 million (which translates to around 0.3 pence earnings share).

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Tue, 31 May 2011 12:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/24128/positive-start-to-the-year-for-a-leaner-and-more-focused-netplay-panmure-28816.html
<![CDATA[News - NetPlay TV returns to positive EBITDA in 2011; restructuring now complete ]]> http://www.proactiveinvestors.co.uk/companies/news/24115/netplay-tv-returns-to-positive-ebitda-in-2011-restructuring-now-complete-28802.html Gaming firm NetPlay TV (LON:NPT) says it has seen a 22 percent increase in active casino players in the first quarter of 2011 compared to Q4, 2010.

New casino customer sign-ups increased 15 percent in the first three months on Q4 last year, added the firm, which reported a strong start to this year, as it revealed its full-year results for 2010 (to 31 December).

Following major restructuring last year, now complete, the company revealed that in 2011 it had now returned to positive EBITDA.

In 2010, the AIM-listed firm posted an increase in revenue from recurring activities of 7.1 percent to £19.8 million compared to £18.5mln in 2009.

EBITDA saw a loss for the year of £2.78mln while revenue from casino was up 21.8 percent to £17.35 mln (2009: £14.24mln).

Charles Butler, chief executive, said today: "2010 was a challenging year, and the disappointing launch of the Bingo Stars show with all its associated costs had a significant negative impact on the group's performance.

He said the company had now "addressed the various aspects of the business which have led to the group's poor historic results" and having restructured, now had an understanding of the key drivers.

He added: "With 2010 behind us and a much reduced and stabilised cost base in place, we have already delivered a positive EBITDA to date in 2011 and remain confident that our revitalised strategy of providing converged live casino in regulated markets will prove successful and drive shareholder value in 2011 and beyond."

Running through the highlights of 2010, NetPlay said there had been a renewed focus on its core live casino business and added that it successfully launched the SuperCasino iPhone application.

All gaming operations were relocated to Alderney and the Supercasino.com platform was moved to Playtech Software Ltd.

Looking ahead, the firm commented that the computing market was being transformed with the mass introduction of smartphones and tablets such as the iPad, anticipated in time, to replace conventional PCs.

"For this reason we believe the company is uniquely positioned to capitalise on this trend by both offering iPhone and tablet based live casino gaming to its existing customer base plus targeting a whole new customer segment with direct customer acquisition.

"We will be launching our own iPad application by the end of the second quarter and expect this initiative to continue to drive new customers to the business and increase the length of customer retention," said the company.

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Tue, 31 May 2011 08:25:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/24115/netplay-tv-returns-to-positive-ebitda-in-2011-restructuring-now-complete-28802.html
<![CDATA[News - NetPlay chief operating officer Templer to quit company next month ]]> http://www.proactiveinvestors.co.uk/companies/news/21709/netplay-chief-operating-officer-templer-to-quit-company-next-month-25894.html  

NetPlay TV (LON:NPT) said this morning that chief operating officer Guy Templer is quitting the business at the end of March to “pursue another career opportunity”.

Templer has helped nurse the gaming and interactive television company through a very challenging period, which culminated in November’s £2.5 million share placing.

The cash will be used to shore up the balance shore up the balance sheet and fund a return to “sustainable profitability”. 

"Guy has played a large part in the restructuring we have implemented over the past few months,” said chief executive Charles Butler.

“He has helped to build a very strong management team, which is now running the core of the business. 

“We have come through a difficult period and Guy is leaving with the business on a strong footing when the results of our recent hard efforts are beginning to be reflected in the company's performance, we wish to thank him for his contribution."


 

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Fri, 25 Feb 2011 07:46:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/21709/netplay-chief-operating-officer-templer-to-quit-company-next-month-25894.html
<![CDATA[News - NetPlay TV shares lifted by positive trading update for full year ]]> http://www.proactiveinvestors.co.uk/companies/news/20875/netplay-tv-shares-lifted-by-positive-trading-update-for-full-year-24879.html Shares in NetPlay TV PLC (LON:NPT) were lifted in morning deals following a positive trading update for the year to end-December 2010.

The interactive gaming company said that after tough trading in Q3 2010, followed by a successful placing in November, and a renewed focus on its core live casino product, the company had a strong end to the year, and full-year results are expected to be in line with expectations.

The stock moved up 5.9 percent to trade at 6.75 pence by midmorning.

Both fourth quarter customer deposits and casino net gaming revenue were up significantly in comparison to the third quarter. This increased sales performance combined with the restructuring of the cost base.

Following the release of the first real money casino app in the UK 'Apple app store' in August 2010, user numbers have been increasing significantly month on month. By the end of December, iPhone users accounted for over 10 percent of all cash players on the core Supercasino live roulette product.

In the fourth quarter, 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.

The current year has started well and the board is confident that the strong trading performance achieved at the end of 2010 will continue in 2011 and that NetPlay will deliver a solid performance, in line with market expectations.

Chief executive Charles Butler said: “There is no doubt that 2010 was a tough year for NetPlay, however, after a successful placing (to raise £2.4 million) 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."

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Mon, 24 Jan 2011 10:35:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/20875/netplay-tv-shares-lifted-by-positive-trading-update-for-full-year-24879.html
<![CDATA[News - Netplay TV CEO Higginson steps down, succeeded by MD Charles Butler ]]> http://www.proactiveinvestors.co.uk/companies/news/19654/netplay-tv-ceo-higginson-steps-down-succeeded-by-md-charles-butler-23446.html NetPlay TV PLC (LON:NPT) said Martin Higginson has stepped down as a director and group chief executive in order to focus on the increased activities of his own investment company, M Capital Investment Partners LLP.

He will be replaced as CEO by current managing director Charles Butler, who will be responsible for the full day to day running of NetPlayTV with immediate effect.

Higginson has agreed to support Butler over the next few weeks during the transition process and will continue to advise the company on its strategy and media relationships on a consultancy basis.

Higginson established NetPlayTV in 2006 when he acquired a major shareholding in a small AIM listed company and rebranded it and transformed the business by moving into the live gaming arena; through a series of acquisitions, pioneering technology developments, and the establishment of a range of strategic media relationships, the level of bets has grown to in excess of £40 million per month.

Butler joined NetPlay TV in January 2010.  He qualified as a chartered accountant at KPMG and has spent the last 10 years in the gaming industry. Charles was the CEO of Bowman International, a global sportsbetting company, for six years developing it from a single product offering in one core market to a well diversified company running multiple products in more than 10 countries, before successfully negotiating its sale to the Bet365 Group.

Charles has also advised many online and landbased gaming groups on their strategy and subsequent implementation.

Martin Higginson said: "Starting any new business is always challenging and exciting; NetPlayTV has been no exception and we have created something unique in a crowded landscape. The recent successful placing and implementation of our revised strategy have created the opportunity for me to hand the reigns over to Charles. I have enjoyed working with him over the past 12 months and I am confident he has the right skills to take the business to new heights.

At the beginning of this month, Netplay TV raised £2.41 million net of expenses, significantly strengthening the balance sheet as it restructures the business, so it can return to profitability. The company issued 83.3 million shares at a price of 3 pence each.

"The funds raised through this placing will ensure NetPlay TV is able to complete its restructuring,” chairman Clive Jones said then. “We believe with a renewed focus on its core "live" casino products will allow the business to return to a sustainable profitable state. We will keep the market updated of future developments."

The company is also planning to reorganise its share structure, with a subdivision of share capital.

NetPlayTV operates a number of interactive gaming services under UK, Malta and Alderney gaming licenses, including SuperCasino.com, ChallengeJackpot.com and Bingos.com. These services can also be viewed 24 hours a day live on Sky, every evening on the terrestrial channels Five and STV plus Freeview.

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Mon, 29 Nov 2010 15:22:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/19654/netplay-tv-ceo-higginson-steps-down-succeeded-by-md-charles-butler-23446.html
<![CDATA[News - Netplay raises £2.41 mln to boost restructuring ]]> http://www.proactiveinvestors.co.uk/companies/news/18974/netplay-raises-241-mln-to-boost-restructuring-22686.html Interactive gaming company Netplay TV (LON:NPT) has raised £2.41 million net of expenses, which it believes will significantly strengthen the balance sheet as it restructures the business, so it can return to profitability.

The company will issue 83.3 million shares at a price of 3 pence each.

"The funds raised through this placing will ensure NetPlay TV is able to complete its restructuring,” chairman Clive Jones said.

“We believe with a renewed focus on its core "live" casino products will allow the business to return to a sustainable profitable state. We will keep the market updated of future developments."

Concurrently the company is also planning to reorganise its share structure, with a subdivision of share capital.

The placing has been supported by investors close to the company with major shareholders Directforce Trading and Gartmore Investment, holding 29.7 percent and 14.1 percent respectively, both participating in the placing.

The company’s directors also subscribed for shares – including chief executive Martin Higginson, managing director Charles Butler, chief operating officer Guy Templer, as well as non-executive directors Andrew Lapping and Graham Stevens.

NetPlay decided to refocus its business recently, after a new format failed to live up to expectations. In September’s interim results, it highlighted the impact the venture had on the business.

The company reported a 21 per cent rise in first half revenues to £11.3 million, and said total casino income was up 73 per cent to £8.8 million in the six months June 30.

As a result the company posted pre-exceptional EBITDA of £740,000, up from £120,000 a year earlier.

However the company posted a loss before tax for the period of £7.9 million once exceptional items and impairments were factored into the calculation.

The group has a television partnership with Channel 5 and hoped to repeat the success story with ITV. 

“Unfortunately, the new soft gaming format did not perform in line with our expectations and has been a major cost to the company,” said chairman Clive Jones. 

“We have taken swift and decisive action and I am pleased to report the cost cutting exercise and the renewed focus on our proven "live" casino format is starting to show positive signs as we rationalise the business.”

 

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Wed, 03 Nov 2010 09:40:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/18974/netplay-raises-241-mln-to-boost-restructuring-22686.html
<![CDATA[News - NetPlay's ITV Partnership Takes Shine Off Strong Rise in Revenues ]]> http://www.proactiveinvestors.co.uk/companies/news/18049/netplays-itv-partnership-takes-shine-off-strong-rise-in-revenues-21606.html

Interactive gaming company NetPlay TV reported an underlying improvement in profitability, but admitted its collaboration with ITV had not worked out the way envisaged.

The company reported a 21 per cent rise in first half revenues to £11.3 million, and said total casino income was up 73 per cent to £8.8 million in the six months June 30.

As a result the company posted pre-exceptional EBITDA of £740,000, up from £120,000 a year earlier.

However the company posted a loss before tax for the period of £7.9 million once exceptional items and impairments were factored into the calculation.

The group has a television partnership with Channel 5 and hoped to repeat the success story with ITV. 

“Unfortunately, the new soft gaming format did not perform in line with our expectations and has been a major cost to the company,” said chairman Clive Jones. 

“We have taken swift and decisive action and I am pleased to report the cost cutting exercise and the renewed focus on our proven "live" casino format is starting to show positive signs as we rationalise the business.”

The ITV trial comes to an end during November, and discussions with broadcaster are ongoing, as is the restructuring of the business, the NetPlay said. 

It will update shareholders on the outcome during the next quarter.  

The company’s core live casino business remains strong, and although July was impacted by a large numbers of winners, it returned to normal patterns in August and September.

 “Our business model is to deliver a great "live" gaming experience to our players; we have succeeded in doing this and today boast one of the largest "live" gaming businesses in the world,” the company said. 

“We use our terrestrial tele-shopping relationships to acquire new customers and our TV relationships allow us to work in an exclusive arrangement with broadcasters. We are able to fully explain our offering using the power of TV and as such have proven we can acquire a substantial number of quality high value players.”

 

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Thu, 30 Sep 2010 10:53:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/18049/netplays-itv-partnership-takes-shine-off-strong-rise-in-revenues-21606.html
<![CDATA[News - NetPlay TV launch SuperCasino iPhone App’ ]]> http://www.proactiveinvestors.co.uk/companies/news/17026/netplay-tv-launch-supercasino-iphone-app--20451.html NetPlay TV’s (LON:NPT) SuperCasino iPhone ‘app’ has been approved by the Apple App Store, and it is now available on a free download in the UK.

The SuperCasino app is the first ‘real money’ casino gaming app on Apple's App Store.

The company said that the new mobile platform is a “natural progression” from its previously released iPhone browser-based game, and Java handset game.

"These groundbreaking moves in the mobile space show NetplayTV's commitment to becoming the leading live gaming operator in the market, giving our customers access via Telephone, Web or Mobile," NetPlay’s Martin Higginson said.

According to NetPlay, SuperCasino users can now interact in real-time with its Live TV shows, enabling users to place bets and interact with the TV show.

Yesterday, the company told investors that Moshe Edree, a non-exec director and representative of Netplay’s largest shareholder Direct Force Ltd, has resigned from his position to “fulfil his other business interests”.

Moshe has been replaced by Collins Stewart’s former Gaming MD, Tim Mickley.

NetPlay’s Clive Jones said that Mickley’s “deep knowledge of the gaming industry will be a real asset” as the company continues to grow.

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Thu, 26 Aug 2010 07:42:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/17026/netplay-tv-launch-supercasino-iphone-app--20451.html
<![CDATA[News - Netplay TV launches amended games format in ITV teleshopping trial ]]> http://www.proactiveinvestors.co.uk/companies/news/16132/netplay-tv-launches-amended-games-format-in-itv-teleshopping-trial-19448.html Netplay TV PLC (LON:NPT) said an amended format and schedule for its Challenge Jackpot and Bingo Stars shows broadcast on ITV's (LON:ITV) teleshopping window is being introduced tonight which the group believes will improve performance.

On 24 June, NetPlayTV announced that the revenues flowing from the Challenge Jackpot and the new Bingo Stars shows broadcast on ITV's teleshopping window had been much lower than anticipated.

It also stated that the combination of this reduced revenue, together with the increased costs associated with these products, would have a significant negative impact on market expectations for the full year results. In addition, the company advised that steps had been taken to alter the format and scheduling of the shows in an attempt to increase revenues and reduce costs.  

In the month since the last update, Netplay has continued to work closely with ITV to optimise the performance of the teleshopping airtime, and today’s trading statement follows this. The ITV teleshopping relationship is a trial, and as such the exposure for the company is finite. “We will continue to maximise the airtime working in partnership with ITV to improve performance.”

The costs saving measures announced in the June statement have begun to feed through, although the full effects will not be seen until Q4 2010.

The core Supercasino.com business has seen improved depositing sign-ups over the last month, as well as an increase in player numbers month-on-month, as a result of renewed focus on this brand. It has however been impacted by a number of large winners reducing the gaming margin for July to 1.3% against an average for the year of 3%.

CEO Martin Higginson commented: "The poor performance of 'Bingo Stars' on the ITV teleshopping window is clearly disappointing, and has had a significant impact on the Company's cash reserves, however it should be noted this was a trial and as such the costs associated with it are finite.

"We have a challenging few months ahead of us, however we remain confident in our core business model. We will continue to work with our broadcast partners to improve formats and performance over the coming months," Higginson added.

NetPlay operates a number of interactive gaming services under UK, Malta and Alderney gaming licenses, including SuperCasino.com, ChallengeJackpot.com and Bingos.com. These services can also be viewed 24 hours a day live on Sky, every evening on the terrestrial channels, Five, and STV, plus Freeview and Bravo.

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Thu, 29 Jul 2010 11:31:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/16132/netplay-tv-launches-amended-games-format-in-itv-teleshopping-trial-19448.html
<![CDATA[Media files - NetPlay TV CEO keen to capture slice of new market in transactional games via TV ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/588/netplay-tv-ceo-keen-to-capture-slice-of-new-market-in-transactional-games-via-tv-441.html Wed, 23 Jun 2010 00:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/588/netplay-tv-ceo-keen-to-capture-slice-of-new-market-in-transactional-games-via-tv-441.html <![CDATA[News - NetPlay TV revenues rise 10%, looks to Google TV launch ]]> http://www.proactiveinvestors.co.uk/companies/news/14184/netplay-tv-revenues-rise-10-looks-to-google-tv-launch-17252.html Interactive gaming company NetPlay TV (LON:NPT) said the “pivotal” 2009 saw its transformation from a “small opportunistic gaming company” into a “fully fledged media business” after regulator Ofcom opened up a potentially huge market by allowing terrestrial broadcasters to air transactional gaming shows.


Following Ofcom’s decision NetPlay decided to exit its premium rate telephony business to focus on the UK terrestrial TV market for interactive gaming.


Total revenues for full year 2009 rose 10% to £21.6 million, while like for like revenues jumped 27% to £21 million. While the company posted an EBITDA (earnings before interest, taxes, depreciation and amortisation) of £0.85 million compared to last year’s £2.43 million profit, it returned to earnings in Q1 2010 with an EBITDA of £0.2 million.

Total gross bets for Q4 rose 25% quarter on quarter to £157 million and posted another increase in Q1 2010, climbing 6% to £166 million. Mobile gaming revenues continued growing with a 10% quarter on quarter increase in Q1 2010.


NetPlay called the development of its mobile betting solution it is now using for “Bingo Stars” a “major milestone” for the business.


“This fully integrated mobile, Internet and TV solution allows us the ability to deliver a fully regulated instant gratification gaming solution to the TV viewer. Trading on ITV is in its very early stages with the mobile application being launched in mid June. We believe the appeal of the mobile text gaming solution as an instant call to action will increase interaction considerably,” said Chief Executive of NetPlay TV Martin Higginson.


Apart from the return to positive EBITDA, post-period highlights included the completion of the offshore migration of SuperCasino.com in February, the revision of the deal with Virgin Media Television in March and partnership with ITV1, which was announced in April.


NetPlay TV now has airtime deals with major UK broadcasters including Sky and Virgin Media Television, plus the agreement with ITV1 and a five year partnership deal with Channel Five. The company has recently signed a deal with Playtech to partner with major media owners.


In order to prepare for ITV partnership, NetPlay invested £1.2 million in studio refurbishment, also allowing successful formats to be broadcast from one central location to international partners.


The report offered a positive outlook as NetPlay said it was now looking to capitalise on new initiatives such as Google TV, which is expected to go live this fall and which the company said would have a significant positive impact on its growth potential.


Shares in NetPlay rose 5% following the release of the report.

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Thu, 03 Jun 2010 10:24:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/14184/netplay-tv-revenues-rise-10-looks-to-google-tv-launch-17252.html
<![CDATA[News - NetPlay TV issues upbeat trading statement, back in profit in Q1 ]]> http://www.proactiveinvestors.co.uk/companies/news/13741/netplay-tv-issues-upbeat-trading-statement-back-in-profit-in-q1-16760.html Online and TV interactive gaming group NetPlay TV PLC (AIM: NPT) has issued an upbeat trading statement, saying it is expecting full-year results to be in line with market expectations. Trading results for the quarter ended 31 March 2010 are also positive and in line with market expectations.

The company has moved to a positive EBITDA of £200,000 for the first quarter of 2010, and confirms it is trading in line with expectations for the year. Gross bets for the period were £166 million, an increase of 5.7 percent over the fourth quarter of 2009, and an increase of 32 percent compared to the third quarter of 2009 – which saw no terrestrial transmission.

The swing to a positive EBITDA is a major step forward and follows a period of heavy investment during the second half of 2009 and into the first quarter of 2010 as NetPlay entered into a number of significant partnerships with UK terrestrial broadcasters. The first quarter of 2010 also saw the company restructure various parts of its business including moving the Supercasino.com brand from the UK to Alderney at the end of February 2010. The full financial benefit of this move will take effect from the second quarter 2010.

As a direct result of entering into partnership deals with STV, and Five, the Company incurred additional TV airtime expenditure of £1.2 million in the fourth quarter of 2009. Due to the materiality of the expense, the directors have written all of this expenditure off in the month it was incurred bringing the accounting treatment in line with IFRS reporting.

It should be noted that due to the strong retention of customers acquired, revenue associated with this expenditure will flow over a period of up to 12 months. The net effect on 2009 reported EBITDA of this treatment, along with certain other non-cash items including foreign exchange losses, is estimated to be approximately £750,000.

“The full financial results of the Company will be announced during the first week of June when we also expect to be able to update the market on the early trading of the ITV1 partnership,” NetPlay added.

NetPlay last month agreed a significant airtime deal for ITV’s (LSE: ITV) night time teleshopping trial window. The six-month airtime trial agreement marks another milestone in its goal of becoming the UK's leading broadcaster of gaming experiences across a broad range of platforms.

NetPlay operates a number of interactive gaming services under UK, Malta and Alderney gaming licenses, including SuperCasino.com, ChallengeJackpot.com and Bingos.com. These services can also be viewed 24 hours a day live on Sky Channel 866 and 867, every evening on the terrestrial channels, Five, and STV, plus Freeview on Virgin 1 at night and Bravo 2 and 24/7 on Virgin Media.

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Thu, 20 May 2010 08:44:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/13741/netplay-tv-issues-upbeat-trading-statement-back-in-profit-in-q1-16760.html
<![CDATA[News - NetPlayTV agree significant airplay deal to broadcast bingo and Keno on ITV’s The Zone ]]> http://www.proactiveinvestors.co.uk/companies/news/12917/netplaytv-agree-significant-airplay-deal-to-broadcast-bingo-and-keno-on-itvs-the-zone-15891.html NetPlayTV (AIM: NPT) has agreed a significant airtime deal for ITV’s (LSE: ITV) night time teleshopping trial window, 'The Zone'.  According to NetPlayTV, the six-month airtime trial agreement marks another milestone in its goal of becoming the UK's leading broadcaster of gaming experiences across a broad range of platforms.
 
‘The Zone’ will be broadcast on the ITV1 channel.

“The agreement with ITV1 allows us to bring together a number of disciplines, from mobile to gaming in the delivery of this exciting new transactional TV bingo show for a trial period”,  NetPlayTV chief executive Martin Higginson commented. "This agreement is a huge breakthrough for the company, and whilst the new format has been costly to develop and is as yet unproven, we believe the potential upside to be significant”.

ITV is able to broadcast transactional formats in a night time teleshopping window under Ofcom’s revised rules. NetPlayTV's formats will sit alongside other retail partners within the two hour window, with ‘The Zone’ featuring quick fire Keno and bingo rounds.
 
NetPlayTV highlighted that the new bingo-based show will be broadcast for approximately 30 minutes, up to six nights per week on ITV1, with programming starting after midnight. Additionally, NetPlayTV will also broadcast its existing Roulette Nation interactive gameshow in an additional 30 minute segment.

"ITV's 'The Zone' is a six month trial of teleshopping material following the Ofcom rule change last year”, ITV’s Controller of TV Shopping and Gaming, William van Rest commented. “Soft gaming products such as Bingo are extremely popular amongst our audience and we look forward to introducing NetPlayTV's range of innovative formats to our audience as part of this trial".

The new format, ‘The Zone’, will be backed by a TV advertising campaign, as well as online, and press marketing.
 
Roulette Nation, which is part of the ChallengeJackpot.com family of brands, is currently broadcast on Virgin 1 and STV. Roulette Nation is an interactive live roulette game, where players/viewers can participate via their PC or phone. Viewers can play Roulette Nation ‘for-fun’ or by betting with a £1 minimum stake.
 
Roulette Nation currently generates over £14 million in bets each month, and currently pays out over £400,000 a day in winnings.

The company also noted that Guy Templer, its current business development director, will join the plc board with immediate effect taking up the role of chief operating officer. ‘Guy has been challenged with taking the company's brands to the next stage of their evolution’, NetPlayTV said.

The ITV deal marks the company latest significant milestone, after it recently took full control of the Challenge Jackpot business, following a deal with its former partner Virgin Media.

The original deal between NetPlay and Virgin was agreed in April 2009. NetPlay took control of the production of the TV channel and website. The Challenge Jackpot channel is a continuous interactive gaming channel, the channel airs 24 hours a day on the Virgin cable-TV network and on SKYs (LSE: BSY) satellite TV network. The Challenge Jackpot database generated 2.9m of gross gaming margin from 12 May 2009 to 31 December 2009.

NetPlayTV operates a number of interactive gaming services under a UK, Malta and Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.com.

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Fri, 23 Apr 2010 09:48:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/12917/netplaytv-agree-significant-airplay-deal-to-broadcast-bingo-and-keno-on-itvs-the-zone-15891.html
<![CDATA[News - NetPlay receives full certification from gambling watchdog GamCare ]]> http://www.proactiveinvestors.co.uk/companies/news/12837/netplay-receives-full-certification-from-gambling-watchdog-gamcare-15706.html NetPlay TV (AIM: NPT) said it has received full certification from GamCare, a specialist provider of advice and treatment for problem gambling, for its SuperCasino.com and ChallengeJackpot.com services. The company has received the award as it has demonstrated high levels of social responsibility and player protection, while meeting or excelling in all conditions outlined by the Alderney Gambling Control Commission, it said in a statement.

"We are delighted that Netplay TV has been awarded this industry recognised award for social responsibility and player protection”, NetPlay TV group chief executive Martin Higginson commented. “NetPlay TV has always been focused on allowing players to gamble responsibly through its sites and doing its utmost to protect its players.

According to Netplay, GamCare is ideally placed to offer practical advice on player protection. The registered charity and industry watchdog supports the development and implementation of responsible policies and practice across the gambling industry and the Certification is the mark of best practice.

GamCare puts gaming companies through a rigorous social responsibility and player protection assessment process, including a review of the customer-facing areas of business, such as age verification practices and staff training in social responsibility.

The company operates a number of interactive gaming services under a UK, Malta and Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.com.

Recently, through the revision of an existing arrangement with Virgin Media, NetPlay took full control of the Challenge Jackpot business, marking another step towards its goal of becoming the UK's leading broadcaster of gaming experiences.

The original deal between NetPlay and Virgin was agreed in April 2009. NetPlay took control of the production of the TV channel and website. The Challenge Jackpot channel is a continuous interactive gaming channel, the channel airs 24 hours a day on the Virgin cable-TV network and on SKYs (LSE: BSY) satellite TV network. The Challenge Jackpot database generated 2.9m of gross gaming margin from 12 May 2009 to 31 December 2009.

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Mon, 19 Apr 2010 10:49:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/12837/netplay-receives-full-certification-from-gambling-watchdog-gamcare-15706.html
<![CDATA[News - NetPlay TV adds Safe Charge's payment services to its approved list ]]> http://www.proactiveinvestors.co.uk/companies/news/12529/netplay-tv-adds-safe-charges-payment-services-to-its-approved-list-15358.html NetPlay TV (AIM: NPT) has added Safe Charge International Ltd to its approved list of payment services providers and risk management solutions. The agreement is non-exclusive and does not stipulate a minimum or maximum level of transactions that need to be conducted through Safe Charge.

The deal is considered to be a related party transaction under AIM rules as NetPlays largest shareholder Directforce Trading Ltd, with a 29.7% stake, also has a beneficial interest in Safe Charge also has a beneficial interest in NetPlay TV through Directforce Trading Ltd.

Netplay TV, having consulted with its Nominated Adviser, consider the terms of the agreement to be fair and reasonable, in respect of the company's shareholders.

The company operates a number of interactive gaming services under a UK, Malta and Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.com.

Recently, through the revision of an existing arrangement with Virgin Media, NetPlay took full control of the Challenge Jackpot business, marking another step towards its goal of becoming the UK's leading broadcaster of gaming experiences.

The original deal between NetPlay and Virgin was agreed in April 2009. NetPlay took control of the production of the TV channel and website. The Challenge Jackpot channel is a continuous interactive gaming channel, the channel airs 24 hours a day on the Virgin cable-TV network and on SKYs (LSE: BSY) satellite TV network. The Challenge Jackpot database generated 2.9m of gross gaming margin from 12 May 2009 to 31 December 2009.

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Thu, 08 Apr 2010 14:47:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/12529/netplay-tv-adds-safe-charges-payment-services-to-its-approved-list-15358.html
<![CDATA[News - NetPlay TV gains full control of Challenge Jackpot and terminates Virgin Media option agreement ]]> http://www.proactiveinvestors.co.uk/companies/news/12083/netplay-tv-gains-full-control-of-challenge-jackpot-and-terminates-virgin-media-option-agreement-14843.html NetPlay TV (AIM: NPT) has agreed certain revisions to its relationship with UK-based cable-TV operator Virgin Media Television, whereby NetPlay has acquired the Challenge Jackpot datebases, and Virgin’s option agreement over NetPlay stock has been terminated.

According to NetPlay, this deal represents another step to achieving its goal of becoming the UK's leading broadcaster of gaming experiences across a broad range of platforms.

The agreement sees Netplay make a fixed cash payment to Virgin, totalling £1.82m. Netplay will retain all revenues generated through Challenge Jackpot, previously shared with Virgin, and Virgin will receive fixed monthly payments for the airtime used by the service.

"The revised terms of this deal allow us to invest in the future development of the Challenge Jackpot brand, as well as the ability to extend it onto other channels. We see Challenge Jackpot as the mass market gaming channel in our portfolio, something for everyone”, NetPlay chief executive Martin Higginson said. "Termination of the option agreement is a good use of the company's cash reserves. It reduces the threat of dilution for all shareholders."

The original deal between the companies was agreed in April 2009. NetPlay took control of the production of the TV channel and website. The Challenge Jackpot channel is a continuous interactive gaming channel, the channel airs 24 hours a day on the Virgin cable-TV network and on SKY’s (LSE: BSY) satellite TV network. The Challenge Jackpot database generated £2.9m of gross gaming margin from 12 May 2009 to 31 December 2009.

As part of the deal, Virgin at that time received options over 14.9m NetPlayshares, or 9.9% of the  issued share capital. These options have now been terminated.

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Thu, 25 Mar 2010 07:51:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/12083/netplay-tv-gains-full-control-of-challenge-jackpot-and-terminates-virgin-media-option-agreement-14843.html
<![CDATA[News - NetPlay MD Gavin Whyte steps down to seek other opportunities ]]> http://www.proactiveinvestors.co.uk/companies/news/11743/netplay-md-gavin-whyte-steps-down-to-seek-other-opportunities-14453.html NetPlay TV plc (AIM: NPT) announced that its managing director, Gavin Whyte, intends to step down from the board to explore new opportunities. Whyte has decided to establish his own mobile gaming business, but he will continue to assist NetPlay with its mobile strategy on a freelance basis.

"I am immensely proud of what we have achieved over the last 3 years and I believe NetPlay TV is now the dominant TV gaming company in the UK,” Gavin Whyte commented. “Last year was transformational and I believe the company is well positioned to continue its rapid growth”.

NetPlay is Britain’s largest interactive TV gaming company, established in 2000 and listed on AIM in 2001. NetPlay develops gaming brands that can be played online, over TV and over mobile phone (Bingo, BlackJack, fixed odds games, mobile quiz games, etc). The company boasts commercial partners such as Virgin Media, FreeView, Turner Media, STV, FreeSat and Five.

NetPlayTV’s interactive gaming services operate a UK, Malta and Alderney gaming licenses, and its brands include including SuperCasino.com, ChallengeJackpot.com and Bingos.com.

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Tue, 16 Mar 2010 07:31:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/11743/netplay-md-gavin-whyte-steps-down-to-seek-other-opportunities-14453.html
<![CDATA[News - NetPlay TV wins 2-year Scottish TV broadcast deal for ChallengeJackpot.com ]]> http://www.proactiveinvestors.co.uk/companies/news/10617/netplay-tv-wins-2-year-scottish-tv-broadcast-deal-for-challengejackpotcom-13184.html Live interactive TV gambling specialist NetPlay TV PLC (AIM: NPT) said it signed a new two year TV distribution deal with STV Group PLC (LSE: STVG) to broadcast ChallengeJackpot.com, one of its key branded TV shows, live on the late night schedule, six nights a week.   The agreement follows a successful trial during the final quarter of 2009.

Broadcasting is scheduled to start from 12 February 2010.

 STV is the biggest commercial broadcaster in Scotland reaching over 4 million viewers every month. The broadcast of the service on STV will be supported by additional TV, web, cinema and press advertising, the company said in a statement.
 
 ChallengeJackpot.com is also broadcast live on Virgin 1, and Bravo 2 seven nights a week, allowing viewers to place real cash bets on a live roulette wheel.

In late September 2009, NetPlay TV signed a landmark five year deal with Channel Five for the broadcast of its SuperCasino.com brand. Since launch the gross bets and deposits of this service have increased considerably showing a 36 percent growth in the fourth quarter of 2009 over the previous quarter. This growth has continued in 2010.

NetPlay CEO Martin Higginson said: "This agreement builds on the pivotal deal we signed with Channel Five.  Confirmation of the increase in top line bets, deposits and sign ups proves our belief in TV as a new and exciting distribution channel for gaming services. The change in Ofcom rules in July 2009 (allowing broadcasters to explore new revenue generating options), has enabled us to secure the majority of TV distribution channels in the UK.  With these secured, we believe NetPlay TV is now well positioned to dominate this space and create a significant new gaming market."

NetPlayTV said it is regularly paying out over £1.5 million in winnings each day. The service is fully regulated by the Alderney Gambling Commissions.

The company has now secured long terms deals with Channel Five, STV, Virgin Media Television, Sky and FreeSat. It continues to see topline growth in terms of bets, deposits and sign-ups. The company is now focused on maximising profits from its business, including the migration of the SuperCasino.com service to Alderney later this month.

NetPlayTV operates a number of interactive gaming services under a UK, Malta and Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.com.

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Thu, 11 Feb 2010 07:52:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/10617/netplay-tv-wins-2-year-scottish-tv-broadcast-deal-for-challengejackpotcom-13184.html
<![CDATA[News - Netplay appoints new finance director as Halverson resigns due to head office relocation ]]> http://www.proactiveinvestors.co.uk/companies/news/10222/netplay-appoints-new-finance-director-as-halverson-resigns-due-to-head-office-relocation-12742.html Live interactive TV gambling specialist NetPlay TV PLC (AIM: NPT) finance director Nichola Halverson has resigned with immediate effect following the decision of the company to relocate its head office, finance, billing and marketing team to London from Lancaster.

It has appointed Charles Butler as her successor with immediate effect.  Butler qualified as a chartered accountant with KPMG and has spent the last nine years in the gaming sector in various roles including finance director and then chief executive of Bowman International which was sold to the Bet365 Group at the end of 2006.

Halverson will continue to assist NetPlay as a consultant on a freelance basis.

In addition, Moshe Edree will join the board as a non executive director. Edtree’s previous roles include over a decade in the online gaming industry. He founded SafeCharge, a processing company in the gaming industry, and IOG, a casino brand using the PlayTech platform. IOG was purchased by Party Gaming in 2007.

Halverson commented: “I have really enjoyed the challenge of integrating two businesses over the last two years and assisting in the landmark deals such as the five year airtime deal with Channel Five.  The company has grown significantly and now warrants having the business in one central location."

NetPlayTV operates a number of interactive gaming services under a UK, Malta and Alderney gaming license, including SuperCasino.com, ChallengeJackpot.com and Bingos.com.

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Fri, 29 Jan 2010 07:52:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/10222/netplay-appoints-new-finance-director-as-halverson-resigns-due-to-head-office-relocation-12742.html
<![CDATA[News - Netplay TV ends Stanley Bet Intl gambling products contract after trial ]]> http://www.proactiveinvestors.co.uk/companies/news/9309/netplay-tv-ends-stanley-bet-intl-gambling-products-contract-after-trial-11683.html Live interactive TV gambling specialist NetPlay TV PLC (AIM: NPT) said that, following a review of the pilot trial, it has terminated the contract in place with Stanley Bet International by mutual agreement.

On July 13 2009 the company announced that it had entered into an agreement with Stanley Bet International to launch live gambling products into its retail outlets. Following a review of the pilot trial the company has decided to cease supplying Stanley Bet International with a live roulette feed to its overseas betting outlets.

NetPlay will continue to develop its supply of live feeds into Fixed Odds Betting Terminals through other distribution channels in fully regulated markets, it added.

The group announced only yesterday it completed the acquisitions of Abstract Games, which will be sold back to the original owners with the company retaining subscription services revenues, and of the mobile casino services operations of Info-Download, a subsidiary of entertainment products developer Zed Worldwide.

Abstract Games was purchased in February 2007 for £0.5 million upfront, with the deal allowing for deferred payments capped at £3.5 million. In addition to the first tranche of deferred consideration of £1.01 million paid last year, the board has agreed a final payment with the vendors of £1.1 which will be paid immediately in full as final settlement of the purchase agreement, bringing the total consideration to £2.61 million.

The business will now be sold back to the vendors for £1 following NetPlay's decision to divest itself of its premium rate telephony business, while retaining the recurring revenues from the subscription services operated by Abstract Games since they joined the group.

The acquisition of quiz and mobile casino services from Info-Download Ltd was announced in January this year. The company was purchased for £0.75 million paid in the company’s shares, £0.5 million of which was paid upfront and the remaining deferred payment of £0.25 million will be issued in shares later this month.

As part of the settlement, Netplay TV will cease paying Zed Worldwide £10,000 per month for global distribution of its products after deciding to focus its expansion in regulated markets. Also, as a consequence of entering into the five year strategic deal with Playtech recently, NetPlay TV no longer has a requirement for Zed worldwide to develop mobile side games.Through its agreement with Playtech the company is now able to offer in excess of 10 mobile side games with jackpots exceeding £0.2 million.

The company said that the mobile quiz revenues have remained constant since acquisition, while the mobile casino revenues have shown “exceptional growth” with the bets placed through the mobile casino platform amounting to £0.9 million in November, while showing continued growth on a month to month basis.

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Wed, 23 Dec 2009 15:43:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/9309/netplay-tv-ends-stanley-bet-intl-gambling-products-contract-after-trial-11683.html
<![CDATA[News - NetPlay TV completes Abstract Games and Info-Download acquisitions, says mobile casino revenue growth ‘exceptional’ ]]> http://www.proactiveinvestors.co.uk/companies/news/9258/netplay-tv-completes-abstract-games-and-info-download-acquisitions-says-mobile-casino-revenue-growth-exceptional-11628.html NetPlay TV (AIM: NPT) has completed the acquisitions of Abstract Games, which will be sold back to the original owners with the company retaining subscription services revenues, and of the mobile casino services operations of Info-Download, a subsidiary of entertainment products developer Zed Worldwide.

Abstract Games was purchased in February 2007 for £0.5 million upfront, with the deal allowing for deferred payments capped at £3.5 million. In addition to the first tranche of deferred consideration of £1.01 million paid last year, the board has agreed a final payment with the vendors of £1.1 which will be paid immediately in full as final settlement of the purchase agreement, bringing the total consideration to £2.61 million.

The business will now be sold back to the vendors for £1 following NetPlay's decision to divest itself of its premium rate telephony business, while retaining the recurring revenues from the subscription services operated by Abstract Games since they joined the group.

The acquisition of quiz and mobile casino services from Info-Download Ltd was announced in January this year. The company was purchased for £0.75 million paid in the company’s shares, £0.5 million of which was paid upfront and the remaining deferred payment of £0.25 million will be issued in shares later this month.

As part of the settlement, Netplay TV will cease paying Zed Worldwide £10,000 per month for global distribution of its products after deciding to focus its expansion in regulated markets. Also, as a consequence of entering into the five year strategic deal with Playtech recently, NetPlay TV no longer has a requirement for Zed worldwide to develop mobile side games.Through its agreement with Playtech the company is now able to offer in excess of 10 mobile side games with jackpots exceeding £0.2 million.

The company said that the mobile quiz revenues have remained constant since acquisition, while the mobile casino revenues have shown “exceptional growth” with the bets placed through the mobile casino platform amounting to £0.9 million in November, while showing continued growth on a month to month basis.

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Tue, 22 Dec 2009 10:19:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/9258/netplay-tv-completes-abstract-games-and-info-download-acquisitions-says-mobile-casino-revenue-growth-exceptional-11628.html
<![CDATA[News - NetPlay TV: the making of a highly profitable multimedia gambling business ]]> http://www.proactiveinvestors.co.uk/companies/news/687/netplay-tv-the-making-of-a-highly-profitable-multimedia-gambling-business-9982.html It is no secret that gambling is absolutely huge in Europe. The current market size is generally agreed to be around $116 billion. It is no exaggeration to say that gambling is as old as the human race itself. It is, however, with the arrival of Internet that gambling went en masse all over the world.

Believe it or not, even the gambling companies are subject to natural business laws, which dictate continuous evolution and innovation. Innovation today for a gaming operator means playing to the demands of the player who wants the game here and now. As well as the development of ever more sophisticated online gaming, the future is also in development of live TV gambling and development of gaming via mobile platforms.  

One of the pioneers in this race is AIM listed NetPlay TV. NetPlay is Britain’s largest interactive TV gaming company (www.netplaytv.plc.uk). Established in 2000 and listed on AIM in 2001, NetPlay develops gaming brands that can be played online, over TV and over mobile phone (Bingo, BlackJack, fixed odds games, mobile quiz games, etc). The company boasts commercial partners such as Virgin Media, FreeView, Turner Media, STV, FreeSat and Five.

At end of 1H2009 NetPlay’s main assets included:

Supercasino.com :round the clock broadcast of Live Roulette and BlackJack games on FreeView 48, FreeSat 851, FreeView CNN Channel 84 and Sky Channel 866

Eurotelemillions.com :TV draw show, launched in partnership with Channel 5 and Trinity Mirror Group, supported every weeknight with national advertising


Bingos.com :Lucky Numbers (UK’s only mobile subscription quiz game, won live on TV each week


Beatthebrain.com :mobile quiz game in partnership with Fox’s FX Channel and CN Radio Group


Challengejackpot.com : took over production in April 2009 on behalf of Virgin Media, contract to run until 2013, Live TV Roulette and host of other games, airs continuously on Virgin Media 141 and Sky 860, intend to move this to mobile platform in 2H2009
 
As gross bets continue to rise, by 31% in 1H2009 (total £204m), the management is busying itself with working new deals to advance itself in its market niche.


A recent string of news includes plans to begin integrating into mobile www.supercasino.com and www.challengejackpot.com brands during 2H2009, a launch of fixed odds betting terminals through StanleyBet International, starting the rollout with some 400 shops in Italy, a launch of live interactive TV casino in Scotland and a signing of a broadcasting deal with Channel 5 - through an RTL distribution deal which could potentially secure more deals across Europe.


NetPlay’s capital structure is almost entirely made up of equity, worth £12.5m (there is £399k worth of current debt). Debt to Capital ratio is therefore negligible. The cost of capital is a tad above 9%.

1H2009 revenues were £9.3 million (£10.1m in 1H2008). The result, however, is more impressive than it seems. The 1H2009 revenue figure excludes discontinued premium rate telephony business (Abstract Games, contributed £4.4m of revenues in 1H2008). The logic to sell off the business was to position the company as a serious contender for partnerships with Tier 1 broadcasters.

With Abstract Games gone, NetPlay’s gross income margin has slipped from 30% of revenue in 1H2008 to 24% of revenue in 1H2009. As a result of foreign exchange losses, much higher depreciation charges (tangible assets = £0,2m, website development = £0,2m, databases = £0,5m, domain names = £0,1m, goodwill and TV licences) and higher number of shares outstanding, the EPS at end of 1H2009 totalled negative 2.59 pence (negative 0.14 pence for 1H2008).

Over on the balance sheet total assets declined from £21,6m at 1H2008 to £19,1m at 1H2009. Reduced goodwill and lower cash balances were to blame. Cash balance stood at £1,4m at end of 1H2009 (£3,7m at end of 1H2008). Total liabilities have also declined from £8,8m at 1H2008 to £6,6m at 1H2009. The main reason for the drop is a reduction in financial liabilities. Balance sheet liquidity is currently an indicator to monitor, as current commitments exceed current assets. Current Ratio is 0.78.

As a result of an operating loss and working capital movement net cash used in operations during 1H2009 was £499k (generated £2,7m of cash in 1H2008). CapEx amounted to just over £1m during the period. 4,4m of new shares have been placed in the period and no dividend is currently being paid. 

Is the current share price of 29.50 pence justified? It is undervaluing the company, if you ask Panmure Gordon. They pen down Netplay’s value at around 34 pence a share.

Higher long term value may well be justified if you consider the following: both 888 (LSE: 888) and Party Gaming (LSE: PRTY) run a net income margin of around 14% of revenue.

Although NetPlay’s business has a somewhat different model, it is still very much capable of achieving a similar margin in medium term future. This is so because:

a) There is a clear long term trend forming, whereby online games are migrating to TV and mobile, thereby playing into the company’s business model,
b) NetPlay is sparing no expense setting up scalable infrastructure (software deal with PlayTech will ensure back office is good enough for Tier 1 broadcasters),
c) The broadcasters themselves are seeing decreased revenues from advertising and so are keen to exploit alternative revenue steams, such as gaming
d) Ofcom now allows televised games during night-time broadcasting slots, thereby benefitting NetPlay strategically; traffic is expected to be on the up and
e) Future opportunities in Europe exist with opening up of new markets (France, for instance, is soon to liberalise its gaming legislature allowing foreign companies to set up shop, although competition is expected to be strong with 888, Party Gaming and William Hill “monitoring the situation closely”).
f) the current gaming market is very fragmented - bingo in the UK is a prime example with over 260 UK bingo sites alone – more sector consolidation is on the cards


So, if you assume that a 14% net income margin is achievable, NetPlay’s return on equity will run at just over 22%, and this will make for a highly profitable business.

The company is run by entrepreneur Martin Higginson (owns 16% of equity). Another 30% of NetPlay is owned by Direct Force Training (whose is also one of the founders of PlayTech).
                   

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Mon, 09 Nov 2009 09:04:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/687/netplay-tv-the-making-of-a-highly-profitable-multimedia-gambling-business-9982.html
<![CDATA[News - NetPlay Updates Investors on its Transformation Through 2009 ]]> http://www.proactiveinvestors.co.uk/companies/news/6639/netplay-updates-investors-on-its-transformation-through-2009-8634.html Interactive Gaming and Media company NetPlay (AIM: NPT) updated investors on their performance through the first half of the year. The highlights of the interim report showed that ‘Total Gross Bets’ increased by 31% across the group while ‘mobile gaming’ margin revenues increased 450% compared to the same period last year.


However earnings swung to a small loss of £0.1 million following the implementation of new media channels due to the subsequent investments in additional staff and associated costs. NetPlay has substantially increased the amount of media channels on which it operates during the period.


Key developments have allowed NetPlay to expand their operation considerably. According to NetPlay, regulatory changes implemented by Ofcom in May 2009 have allowed the Company to exploit their dominant market position. While July’s placing raised £12.8m to fund future growth of business.


Generally the update reflected NetPlay’s ongoing growth, with Daily depositing players increasing five-fold since launching on terrestrial TV in mid-September 2009. There is potential for this to extend further as NetPlay signed several broadcasting agreements during the period. With terrestrial and digital broadcasters including Channel Five, STV, Virgin Media Television, Freeview, Turner Media, and FreeSat.


NetPlay also expanded their existing operations into other digital media channels, through a deal with the software company Playtech Plc. Playtech provides distribution of NetPlay games via both Playtech's online customers and retail clients. NetPlay TV supply a number of 'live' games including: Live Roulette, Live Blackjack, Live Bingo and a Live Fixed odds draw. As part of the agreement, NetPlay TV will migrate all of its services onto the Playtech technology platform, this agreement is scheduled to run for a period of five years.


To complete NetPlay’s digital offering they have launched an interactive Mobile to TV product, a world first for an interactive gaming company. Meanwhile NetPlay’s existing mobile gaming business has experienced strong performance with margin revenues increasing 450% on a like-for-like basis.


NetPlay has also established a ‘land based’ gaming operation as it launched the first 'live' fixed odds betting terminal through Stanleybet International. Retail customers will be able to enjoy all of NetPlay TV's classic branded live table games, such as Live Roulette, on dedicated terminals in each betting shop, the company said in a statement. The Roll out will commence later this year.


NetPlay’s Chairman, Clive Jones commented on 2009’s successful expansion, stating;


 “In 2009 NetPlayTV has successfully managed to transform itself from a small gaming business into a respected Interactive Media business. By signing new deals with some of the World's largest media businesses it has clearly established itself as a serious player in the interactive TV marketplace.”

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Wed, 30 Sep 2009 11:56:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/6639/netplay-updates-investors-on-its-transformation-through-2009-8634.html
<![CDATA[News - Netplay inks five year broadcast deal with Five for SuperCasino.com live interactive TV show ]]> http://www.proactiveinvestors.co.uk/companies/news/5917/netplay-inks-five-year-broadcast-deal-with-five-for-supercasinocom-live-interactive-tv-show-7852.html NetPlay TV plc (AIM: NPT) continued its recent pace of contract wins for its interactive TV gaming products this morning, announcing that it had signed a five year broadcast deal with Five. Five is wholly owned by RTL Group, one of the world's largest media businesses.


The deal, which was leaked in the Sunday Telegraph yesterday, will see NetPlay TV’s SuperCasino.com live interative TV show broadcast on Five’s terrestrial channel.  The show will initially be on air from midnight to 4am on Thursday, Friday and Saturday starting on 17 September, before extending to six nights a week by October and seven nights a week in the beginning of 2010.


Five had been trialling SuperCasino.com over the past month using the channel’s teleshopping window.


“This agreement is a landmark deal for both parties,” Netplay commented.  “Five will be the first UK national terrestrial broadcaster to take advantage of the new OFCOM teleshopping rules that allow terrestrial broadcasters to air up to six hours of teleshopping in a 24 hour period.”


As part of the deal, Five has been granted an option of a 5% stake in the NetPlay TV at a strike price of 28.5 pence per share. The options are exercisable from the first anniversary of signing the agreement and will cease six months post termination of the five year relationship agreement.


“The initial five year deal with Five reflects our confidence in the product and its suitability for the medium of television. The four day, four week test on Five confirmed the massive opportunity interactive TV gaming brings,” commented Martin Higginson, CEO of Netplay TV.


Netplay also released a trading update alongside the new contract win.  

Overall, the company expects to meet expectations with at the revenues level, but profits are expected to come in lower due to delays in moving the SuperCasino.com operation offshore and the impact of the Company exiting the premium rate telephone business.


“NetPlay TV believes that the decisions taken to focus on terrestrial TV opportunities, exit the premium rate telephony business, invest in robust technology and delay the move offshore of the SuperCasino.com business have been the right ones for the long term success of the Company.”

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Mon, 07 Sep 2009 09:43:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/5917/netplay-inks-five-year-broadcast-deal-with-five-for-supercasinocom-live-interactive-tv-show-7852.html
<![CDATA[News - NetPlay wins TV casino deal from Scotland’s STV ]]> http://www.proactiveinvestors.co.uk/companies/news/4935/netplay-wins-tv-casino-deal-from-scotlands-stv--6706.html Live interactive TV gambling specialist NetPlay TV PLC (AIM: NPT) announced a TV distribution deal with STV Group PLC (LSE: STVG, formerly known as formerly as Grampian TV) and the launch of Scotland's first live interactive TV casino on a national terrestrial broadcast channel.

The interactive TV casino will be broadcast live on STV in the late night schedule on Thursday, Friday and Saturday each week, with effect from August 2009.

STV is the biggest commercial broadcaster in Scotland reaching over 4 million viewers every month. The launch of the new casino service on STV will be supported by additional web, cinema and press advertising, NetPlay said.

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Mon, 20 Jul 2009 10:30:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4935/netplay-wins-tv-casino-deal-from-scotlands-stv--6706.html
<![CDATA[News - NetPlay reiterated ‘buy’ at Panmure Gordon, target still 30p ]]> http://www.proactiveinvestors.co.uk/companies/news/4867/netplay-reiterated-buy-at-panmure-gordon-target-still-30p-6623.html Panmure Gordon issued a note on NetPlay TV PLC (AIM: NPT) after a flurry of news from the live interactive TV gambling specialist, reiterating its ‘buy’ stance and target price of 30 pence a share.

In the last few days, Netplay announced a £12.8 million share placing with investment company Directforce Trading, a strategic agreement with Playtech Ltd under which it will supply games to the Playtech network for five years as well as the launch of a retail offering with Stanleybet.

“We continue to see excellent growth opportunities for the business as it rolls out its converged gaming solutions. There is also potential upside due to the deal with Stanleybet and cash injection from new shareholder Directforce, and this should give new opportunities to invest,” the broker said in its note.

“We believe that the stock is not expensive given the underlying growth, which may be further enhanced by possible future deals,” it added.

NetPlay will be presenting at the Proactive Investors One2One Investor Forum 22 July 2009.

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Tue, 14 Jul 2009 12:14:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4867/netplay-reiterated-buy-at-panmure-gordon-target-still-30p-6623.html
<![CDATA[News - Netplay TV launches new live betting products, secures Stanleybet as 1st distribution partner ]]> http://www.proactiveinvestors.co.uk/companies/news/4846/netplay-tv-launches-new-live-betting-products-secures-stanleybet-as-1st-distribution-partner-6598.html Live interactive TV gambling specialist NetPlay TV PLC (AIM: NPT) announced the launch of a  new set of live betting products designed for land-based operations, with Stanleybet International (SBI) the company's first distribution partner.

Under the terms of a two year contract, Europe-focused cross-border retail sports betting company SBI will roll out the retail products, initially in 100 of its 1,400 outlets. Retail customers will be able to enjoy all of NetPlay TV's classic branded live table games, such as Live Roulette, on dedicated terminals in each betting shop, the company said in a statement.

The retail products are being launched by a new division of NetPlay TV, established to roll out the company's products to other gaming operators and TV companies. The new division will be headed by Guy Templer, former Managing Director of Two Way Gaming Ltd, a business recently acquired by NetPlay TV. Templer will take up the role of business development Director.

CEO Martin Higginson said: “This new deal with Stanleybet International is a significant milestone for the Group. The move into supplying retail operators is a first for the Company and opens up new global opportunities.”

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Mon, 13 Jul 2009 11:51:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4846/netplay-tv-launches-new-live-betting-products-secures-stanleybet-as-1st-distribution-partner-6598.html
<![CDATA[News - Netplay TV forges ahead with £12.84 million fundraising and games supply deal with Playtech ]]> http://www.proactiveinvestors.co.uk/companies/news/4808/netplay-tv-forges-ahead-with-1284-million-fundraising-and-games-supply-deal-with-playtech-6551.html NetPlay TV PLC (AIM: NPT) announced raising £12.84 million before expenses in a placing and agreement on an interactive games supply deal to Playtech Ltd for five years.

The 'live' interactive TV gambling specialist said it has conditionally placed 58,352,476 new shares at 22 pence each to strengthen the company's balance sheet and provide capital for future growth.

The new shares, which will be placed with investment company Directforce Trading Ltd, will represent approximately 29.9 percent of the enlarged capital. The beneficiary of Directforce also has a beneficial interest in a significant shareholder of Playtech Ltd.

The memorandum of understanding with Playtech provides for distribution of NetPlay games via both Playtech's online customers and retail clients. NetPlay TV will supply a number of 'live' games including: Live Roulette, Live Blackjack, Live Bingo and a Live Fixed odds draw. As part of the agreement, NetPlay TV will migrate all of its services onto the Playtech technology platform, this agreement will also run for a period of five years.

NetPlay CEO Martin Higginson said:  “This agreement will take NetPlay TV to new heights. The investment of £12.8m into our business, along with the strategic relationship, both in terms of distribution and technology with Playtech, will enable us to drive the development of our converged gaming solutions.”

Only last month, the group reported a strong set of preliminary results for the 12 months ended  December 31 2008, with revenues up 118 percent at £19.8 million and a move to positive earnings before interest, tax, depreciation and amortisation (EBITDA)  to £2.4 million, from a £1.7 million loss. Netplay also confirmed that Q1 2009 trading was in line with budget.

2008 was a busy year for the interactive gaming services company, with a string of acquisitions completed and the launch of a number of new services to extend its reach into business to business (B2B) solutions for retail, television and online partners.

NetPlay TV operates a number of interactive gaming services including SuperCasino.com, Bingos.com and EuroTeleMillions.com which air across various Freeview, Sky and FreeSat Channels.
Since January, Netplay has launched “Daily SuperDraw” on Channel 5, “Beat the Brain” on FX Channels with Fox International, completed the acquisition of Two Way Gaming and entered into an agreement to produce and manage Virgin Media’s “Challenge Jackpot”.

"NetPlay TV has come of age. The business has been transformed during the course of the year into a significantly larger interactive media business,” stated Netplay TV’s Non-Executive Chairman, Clive Jones when commenting on the full year results.  “The demand for "live" gaming is starting to gather momentum and we are uniquely positioned to take advantage of this major opportunity.  The UK Government is committed to the delivery of a fast Internet service for all and, as such, TV quality interactive programming is now available to an increased and growing number of UK homes."

Jones, who was appointed last month, is a broadcasting veteran, having started his career in the industry in 1978 when he produced award winning news programmes and documentaries for ITV. He then moved into management firstly as an dditor of TVAM and then as managing director of Central Television, and the London News Network.

He has held a number of prestigious roles in the media industry such as chief executive of both ITV News and Carlton UK Television. He is currently non-executive chairman of GMTV and a non-executive director of S4C, as well as Governor of the National Film and Television School.

NetPlay will be presenting at the July 22nd Proactive Investors one2one Investor Forum in London Mayfair at 6pm. For more information and to attend please register here.

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Thu, 09 Jul 2009 11:42:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4808/netplay-tv-forges-ahead-with-1284-million-fundraising-and-games-supply-deal-with-playtech-6551.html
<![CDATA[News - NetPlay TV revenues soar as acquisitions and new products kick in ]]> http://www.proactiveinvestors.co.uk/companies/news/4568/netplay-tv-revenues-soar-as-acquisitions-and-new-products-kick-in-6260.html
2008 was a busy year for the interactive gaming services company, with a string of acquisitions completed and the launch of a number of new services to extend its reach into business to business (B2B) solutions for retail, television and online partners.

Financial highlights included a 118% increase in full year revenues to £19.8 million (2007: £9.1 million) and a move to positive earnings before interest, tax, depreciation and amortisation (EBITDA)  to £2.4 million (2008: £1.7 million loss).  

Netplay also confirmed that Q1 2009 trading was in line with budget, showing and EBITDA figure of £0.455 million, and gross monthly bets across its gaming operations exceeded £39 million in May.

Since January, Netplay has launched “Daily SuperDraw” on Channel 5, “Beat the Brain” on FX Channels with Fox International, completed the acquisition of Two Way Gaming and entered into an agreement to produce and manage Virgin Media’s “Challenge Jackpot”.

"NetPlay TV has come of age. The business has been transformed during the course of the year into a significantly larger interactive media business,” stated Netplay TV’s Non-Executive Chairman, Clive Jones. “The demand for "live" gaming is starting to gather momentum and we are uniquely positioned to take advantage of this major opportunity.  The UK Government is committed to the delivery of a fast Internet service for all and, as such, TV quality interactive programming is now available to an increased and growing number of UK homes."


NetPlay TV operates a number of interactive gaming services including SuperCasino.com, Bingos.com and EuroTeleMillions.com which air across various Freeview, Sky and FreeSat Channels.

Looking ahead, the company said it was now “widely recognised” as the market leader in TV interactive gambling formats and it intended to use its unique model to take advantage of commercial opportunities and consumer demand.

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Mon, 22 Jun 2009 11:04:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4568/netplay-tv-revenues-soar-as-acquisitions-and-new-products-kick-in-6260.html
<![CDATA[News - Netplay names media professional Clive Jones non-exec chairman ]]> http://www.proactiveinvestors.co.uk/companies/news/4388/-netplay-names-media-professional-clive-jones-non-exec-chairman-6047.html Interactive media gaming company Netplay TV PLC (AIM: NPT) said it appointed Clive William Jones as non-executive chairman with immediate effect.

Martin Higginson will remain as chief executive.

Jones started his broadcasting career in 1978 when he produced award winning news programmes and documentaries for ITV. He then moved into management firstly as an dditor of TVAM and then as managing director of Central Television, and the London News Network.

He has held a number of prestigious roles in the media industry such as chief executive of both ITV News and Carlton UK Television. He is currently non-executive chairman of GMTV and a non-executive director of S4C, as well as Governor of the National Film and Television School.

Jones commented: 

"I am delighted to be joining NetPlay TV as it consolidates its position in the market and embarks on a new period of growth.We plan to build an interactive  business of both national and international scale."

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Tue, 09 Jun 2009 09:49:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4388/-netplay-names-media-professional-clive-jones-non-exec-chairman-6047.html
<![CDATA[News - Netplay announces a flurry of deals to take its gambling products to the next level ]]> http://www.proactiveinvestors.co.uk/companies/news/4221/netplay-announces-a-flurry-of-deals-to-take-its-gambling-products-to-the-next-level-5858.html Netplay certainly delivered plenty of news to investors in the first quarter of 2009. Based on the reaction to several deals and some acquisitions, it would appear many are still trying to digest all of the information and understand how it applies to the company’s prospects going forward; though overall the reaction has been very favourable.


We were fortunate enough to meet with Martin Higginson, Chairman and CEO of Netplay and also the largest shareholder, with a 23.3% equity stake.  Martin is no stranger to building businesses, starting up numerous companies in the past before selling them on, including Monstermob Group plc and Megafone.  A similar game plan appears to be in place for Netplay, where the end game will be a bid for the company that the Chairman and CEO, and other shareholders cannot refuse.  For the meantime however, the immediate goal is to roll out the business model and generate as much revenue as possible.


Netplay is a slightly unusual beast working in a not so unusual sector – gambling.  We have covered other companies in this sector, including Probability PLC, which is focused on mobile phone gambling, but Netplay has a more encompassing outlook on the possibilities. No need to be bamboozled by technical speak on this one, Netplay is very straightforward. 


Surf through the TV at night and you will come across some channels that allow you to bet on a live roulette wheel or black jack – this is Netplay TV.  It’s incredibly straightforward, and it is very easy to open an account and start playing. Of course you can access these games via a website as well (Supercasino.com, Bingos.com and EuroTeleMillions.com) and there are other online games too, but the big push for Netplay TV in recent years has been to develop its format for TV.  To many this may seem a bit odd, considering all the chatter about internet and mobile applications.  It does in fact make perfect sense. What Netplay TV has focused on is proving the business model on TV. Now the second and third phase of the business model begin to unfold, and that is expanding the live gaming concept to both web based and mobile phone based applications. The other ambition of Netplay is to effectively manage other media groups’ gambling for them. This was perfectly demonstrated in a recent deal with Virgin Media.


Netplay TV will take over production of the 'Challenge Jackpot' brand, including its website and television channel. The channel airs 24/7 on Virgin Media and Sky, plus three hours per day with live presenters on Bravo 2 and Virgin 1, extending the brand into Freeview homes. The deal sees Netplay TV taking over virtually all aspects of the business for Virgin, and in return Netplay will receive a management fee plus a cut of the revenues from the business. This was the first deal announced by Netplay were it will manage another media group’s entire range of gambling products, but is almost certainly not going to be the last. As part of the deal, Virgin Media has an option to acquire a 9.9% stake in Netplay TV. As another part of the deal, NetPlay TV acquired privately owned Two Way Gaming Ltd to allow the smooth transfer of registered players and customer accounts as well as the required licences, servers and staff. The consideration for the deal is £2 million, paid in shares.

For Netplay the deal is a logical step. It has developed its own range of brands, and broadcasts them across various channels, and in the case of EuroTeleMillions, in partnership with Channel Five. Now it has added the management of another group’s gambling business into its own operations. 


What Next?


Clearly is will take time to integrate and maximise the potential of Virgin’s 'Challenge Jackpot' brand – the contract runs until 2013. However, in the meantime, Netplay TV continues to develop its own products and can look to talk with other possible media groups who are interested in moving into the space buy may not necessarily want to develop a product from scratch. Netplay brings the experience and know-how to help a large media group roll out a product far quicker than it could on its own.


Equally interesting is the continued development of the live TV product across the internet and mobile phones. The rate at which mobile phones are becoming mini-laptops with 3G capability is not short of spectacular. This opens up a huge opportunity for companies like Netplay to allow people to play live games from their mobile phone.


Martin Higginson sees the potential, and the company is keen to move into this arena. Perhaps more near term however, may be the appearance of live TV options via a website, almost like a white label solution where a large website could offer users the ability to sign up and play roulette, where Netplay and the website owner would share the revenues generated. It’s not hard to envisage some websites that would be very interested in this kind of product.


Panmure Gordon, house broker to Netplay , recently released an update, reiterating its ‘buy’ stance, noting that the Virgin Media deal could boost 2010 full year earnings per share by 20%.  Panmure is forecasting EBITDA of £4.4m and £7.0m in FY09 and FY10 respectively, and EPS of 2.1p rising to 3p (assuming dilution from the new shares and the 9.9% Virgin share option). On the Panmure forecast, Netplay is trading on a forward 2010 P/E of 8.7 – hardly demanding.

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Fri, 29 May 2009 08:26:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/4221/netplay-announces-a-flurry-of-deals-to-take-its-gambling-products-to-the-next-level-5858.html
<![CDATA[News - NetPlay TV wins exclusive Channel 5 deal for EuroTeleMillions game ]]> http://www.proactiveinvestors.co.uk/companies/news/3165/netplay-tv-wins-exclusive-channel-5-deal-for-eurotelemillions-game-4547.html Interactive gaming group Netplay TV PLC said it won an exclusive TV distribution deal with Channel Five Broadcasting to launch its new service www.EuroTeleMillions.com on March 9 2009.

NetPlay TV has also signed a new partnership agreement with Trinity Mirror Group under which the EuroTeleMillions.com service will be promoted in all of the Mirror titles.

EuroTeleMillions.com features five fixed odds draws every week: Monday to Thursday for a GBP1 million guaranteed jackpot, and each Friday with a guaranteed jackpot of €10 million.
 
The new game is an evolution of the "Play Monday" charity draw acquired by NetPlay TV in early 2008 that has undergone extensive development. The televised draws will be aired daily as a two and half minute commercial on Five.

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Tue, 24 Feb 2009 13:40:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/3165/netplay-tv-wins-exclusive-channel-5-deal-for-eurotelemillions-game-4547.html
<![CDATA[RNS press release - Netplay TV PLC - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/672/LSE_0000_20080709T15295965116002009034/ Wed, 09 Jul 2008 15:29:59 +0100 http://www.proactiveinvestors.co.uk/companies/rns/672/LSE_0000_20080709T15295965116002009034/ <![CDATA[RNS press release - Netplay TV PLC - Total Voting Rights ]]> http://www.proactiveinvestors.co.uk/companies/rns/672/LSE_0000_20080630T16350265116000594402/ Mon, 30 Jun 2008 16:35:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/672/LSE_0000_20080630T16350265116000594402/