GIBRALTAR - The performance of 888’s bingo business was a bright spot in an otherwise poor performance in the first six months of 2010. 888 operate Wink Bingo, Posh Bingo and 888 Bingo as well as providing the bingo software for well known online bingo brands such as Foxy Bingo, Cheeky Bingo and UK Bingo. Bingo [...]
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LONDON, U.K. - Ladbrokes Bingo has seen an excellent financial performance over the first six months of 2010 be somewhat overshadowed by the company as a whole experiencing a fall in revenue of 2.4 per cent and Ladbrokes Poker continuing to get a foothold in the market.
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LONDON, U.K. - Party Bingo, the bingo arm of Party Gaming, one of the biggest online gaming companies in the world, has seen tremendous growth in the first six months of 2010. In a half yearly report for the company, bingo revenues grew more than any other part of Party's games mix.
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GIBRALTAR - The performance of 888’s bingo operation was the only bright spot as the company issued a profits warning this morning. 888 said that it had “revised its outlook for the remainder of the year and now expects profit to be significantly lower than previous market expectations”. Shares in the company plunged 20% in early [...]
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DUBLIN – Bookmakers Paddy Power said that a strong trading performance in the first four and a half months of 2010 had been boosted by substantial growth at Paddy Power Bingo. Gross win in bingo, casino and games grew by 32% while bet volumes in the Paddy Power’s online sportsbook grew 39 per cent. Profits were [...]
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LONDON – Betting giant Ladbrokes said that bingo was one of the main growth areas of its business as it reported financial figures for the first four months of 2010. Ladbrokes Bingo had seen a 10 per cent rise in customer sign ups and a 5 per cent increase in revenues, helping to offset a downturn [...]
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LONDON, UK - The operators of Mecca Bingo halls and Grosvenor Casinos, Rank Group plc has experienced a good start to the year with increased sales in its casinos and online platforms.
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GIBRALTAR – Foxy Bingo and the other bingo brands operated by Cashcade will stay on Globalcom software for at least another two years, it was announced this morning. Globalcom, which is part of 888’s Dragonfish business-to-business operations, said that they were delighted to have held on to the contract for Foxy Bingo, Think Bingo, Bingo Scotland [...]
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Mecca Bingo halls in 2009 increased takings by over £5million (from £227.6million to £230million) compared to 2008 figures. Growth in Mecca Bingo revenue was mostly a result of increased spend per customer as the halls had actually seen a fall in customer visits in 2009.
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LONDON - 888, who acquired Wink Bingo at the end of 2009, has announced that their latest bingo offering is already contributing well to the group's revenue and profit in 2010. 888 have also said that growth at the end of 2009 was driven by the highly popular 888 Ladies bingo site.
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LONDON – Revenues at Party Gaming’s bingo sites rose 25 per cent over the past three months but player numbers fell and new sign ups dropped sharply. Party’s sites include Foxy Bingo, Think Bingo, Cheeky Bingo, Bingo Scotland and the recently rebranded Party Bingo. Most of their bingo sites were acquired last summer when they took [...]
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The Operator of Mecca Bingo halls and Grosvenor Casinos in the UK, Rank Group has posted significant sales growth in 2009, helped by rapid sales acceleration during the final quarter of the year. The improvement in sales at the end of last year means that Rank Groups earnings per share will be at the high end [...]
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The extraordinary saga of Bingo.com continues with the company announcing another huge loss, despite owning the best online bingo domain in the world. Between July and September 2009 Bingo.com lost $390,432 and total revenue fell 8% on a year-on-year basis and 5% on a quarter-on-quarter basis. Chief executive Tarrnie Williams said that players were becoming more sophisticated [...]
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William Hill and Playtech have both released trading updates in the last 24 hours and neither company sought to mention their online bingo operations in any detail. Playtech said that operational highlights included “launch of a new version of Playtech’s bingo product which will be further boosted by increased liquidity contributed by existing and new licensees” [...]
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Party Gaming published their third quarter results and the impact of their acquisition of online bingo giant Cashcade is immediately obvious. Cashcade owns Foxy Bingo, Cheeky Bingo, Think Bingo, Little Big Bingo and Bingo Scotland and also runs white label bingo sites, with the biggest client being Mirror Bingo. In the three months to 30 September the [...]
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Revenues at Party Bingo dropped from $2.5 million in the first six months of 2008 to $1.7 million in the same period in 2009 but the company is not worried by the fall. Earnings from bingo rose to $0.2 million, up from a loss of $0.1 million in the same period in 2008 but all these [...]
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Paddy Power Bingo is providing great growth to the Irish gambling company, at a time when the company has suffered from a run of bad sporting results. Issuing a half yearly report, Paddy Power plc said that their bingo operations were a bright spot that had made up for the poor perfomance of poker. “This was [...]
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Bingo.com said that it had experienced a “challenging” second quarter of the year with losses rising 9 per cent to $266,702 between April 1 and June 30, 2009. Chief executive Tarrnie Williams said the highly competitive UK market and ongoing development and licencing costs had contributed to the increased losses: “The second quarter of 2009 was a [...]
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Ladbrokes Bingo’s strong financial performance was the only bright spot in a poor set of results announced by Ladbrokes plc this morning. Announcing interim results for the first six months of 2009, Ladbrokes said revenues fell 6.6 per cent and profits fell 25.6 per cent in the group overall but bingo revenues grew 29.8 per cent [...]
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The sale of Cashcade to Party Gaming is neither “dramatically positive or dramatically negative”, Gigi Levy, the chief executive of 888 told financial analysts this morning. On a conference call to discuss 888’s second quarter performance metrics, Levy was asked in detail about why he had not bought Cashcade, the parent company of Foxy Bingo, Think [...]
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Mecca Bingo’s bingo hall business has stablised in the first six months of the year and their online business is a major priority, according to their parent company Rank Group. In a trading statement updating the market on the first six months of 2009’s financial performance, Rank Group issued an upbeat statement. Rank’s chief executive, Ian Burke, [...]
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Gala Bingo could become a stand alone company as part of a restructuring planned by its lenders. Currently Gala Bingo is part of the Gala Coral group, which also owns a large chain of high street betting shops and casinos across the UK. According to press reports, the Royal Bank of Scotland, who is one of the [...]
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Bingo News’ editorial team analyses the reasons behind Party Gaming’s £94.9 million purchase of Cashcade, operator of Foxy Bingo, Bingo Scotland, Cheeky Bingo, Think Bingo and Little Big Bingo. Cashcade has been up for sale for the past two years. Finally, a deal has been completed with Party Gaming paying £71.9 million up front and up [...]
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Cashcade, the parent company of Foxy Bingo, Think Bingo, Bingo Scotland, Cheeky Bingo and Little Big Bingo, has been sold to Party Gaming. Party Gaming will pay an upfront cash payment of £71.9 million and up to £24 million in earn out payments dependent on the company’s future growth. Cashcade made £12.2 million in profit last year [...]
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Bingo.com continues to lose money but are very pleased with their progress, according to their first quarter results. Bingo.com lost $243,974 in the first quarter of 2009, 37 per cent less than the $390,282 they lost in the fourth quarter of 2008. Chief executive Tarrnie Williams described it as a “very pleasing first quarter”. First quarter gaming revenue [...]
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Independent News and Media are in an “advanced stage” of talks to sell their stake in online bingo operator Cashcade, according to a report in The Guardian. Cashcade owns Foxy Bingo, Think Bingo, Think Bingo Cosy and Cheeky Bingo and also run Mirror Bingo on behalf of publishing giant Trinity Mirror. INM will publish results tomorrow and [...]
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Top Ten Bingo has outlined plans to delist from the AIM market of the London Stock Exchange as part of a restructuring to ensure its financial future. Top Ten Holdings plc said the company “continued to be in breach of its banking covenants and, given its level of bank borrowings and the current economic environment, it is unlikely to be [...]
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Mecca Bingo’s parent company Rank Group put out an emergency trading statement following yesterday’s Budget announcements about the change in the tax regime for bingo operators. They said revenues for Mecca Bingo had stayed exactly the same on a like-for-like basis for the first 16 weeks of 2009 to 19 April. The company said: “In difficult economic [...]
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The bingo industry’s campaign to abolish VAT on bingo ticket sales was succesful yesterday – only for Chancellor Alistair Darling to increase taxes on bingo and gaming machines. VAT on bingo will be abolished but Gross Profits Tax (GPT) will increase from 15% to 22% and machine duty will rise 9% from £2,030 to £2,215 per [...]
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Party Gaming, the parent company of Party Bingo, has reached a settlement with the American authorities over their ‘illegal’ gambling in the United States. Party Gaming agreed to pay $105 million in penalties over three years as part of a non-prosecution agreement. Lev L. Dassin, acting U.S. attorney for the Southern District of New York, said the [...]
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Parlay Entertainment’s exit from the United States online bingo market meant a sharp drop in revenues for the company but management claim they are in good shape for the future. Like-for-like royalty revenues for the fourth quarter 2008 fell 53% to $871,661, dragging total fourth quarter revenues down by 38% to $1,241,621. Chief executive Scott White said: [...]
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888 Ladies said it was enjoying strong growth in its bingo business but did not release detailed numbers about the site’s performance. They said they would however be launching a global bingo network in the coming months with the hoping of replicating their success in the UK in other territories. Parent company 888.com lumps bingo performance together [...]
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The chief executive of Mecca Bingo has doubled his stake in the business by buying almost £50,000 of shares. Ian Burke bought 85,000 shares at 59.75p and now has around 160,500 shares in Rank Group, which owns Mecca bingo halls and Grosvenor Casinos. Rank Group recently reported results for 2008 and Mr Burke said that he was [...]
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Irish betting operator Paddy Power say they see bingo as a potential growth area for their business. Chief executive Patrick Kennedy, who was delivering the company’s 2008 final results, said: “There remain many opportunities which we intend to progress over the next number of years in the UK, Ireland and further afield. Many of these will have the UK as one [...]
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Mecca Bingo’s profits fell 25.5% in 2008 and revenues dropped 10.8% on a year-on-year basis. The final results were flattered by a successful VAT claim which when included in the results reduced the year end performance to a 4.1% drop in profits and a 5.4% decline in revenue. But without the benefit of the one-off VAT win [...]
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Ladbrokes plc, the parent company of Ladbrokes Bingo, this morning reported strong results for 2008. Revenues declined to £250.2 million from £345.2 million in 2007 but were still £35 million ahead of what City analysts had expected. Online sign ups for all Ladbrokes products grew 21.5% with 373,00 new players signing up in 2008 and a [...]
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Trading at Mecca Bingo halls has stablised in the last 15 weeks with a 5% decrease in admissions offset by a 5% increase in expenditure by those at Rank’s bingo halls. But a trading statement issued by Rank Group this morning shows the full effect of the smoking ban and change in laws on jackpot machines [...]
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The online division of Rank, which runs MeccaBingo.com, has a new boss. Mark Jones was appointed chief executive of Blue Square, which runs all the online business of Rank, parent company of the Mecca Bingo Halls business. He starts with immediate effect and will join the board of Rank Group. Jones has previously worked as managing director [...]
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John Kelly, chairman of the Gala Coral group, which owns Gala Bingo, is to stand down later this month, 10 months earlier than expected. Kelly has been at Gala Coral since 1997 when he led the management buyout of the company from Bass. Industry insiders estimate he made at least £20 million over the past 11 [...]
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Party Gaming, the parent company of Party Bingo and ITV Bingo, announced strong growth in their bingo product against an overall disappointing performance from their main product. Third quarter results showed bingo revenue rose 143% to $1.7m, up from $0.7m in 2007. New player sign-ups were up by 486%, primarily driven by ITV Bingo, their UK [...]
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Bingo.com made a loss of $268,774 (£180,944) in the three months to the end of September, taking their total losses for the last six months to more than half a million dollars. Bingo.com is in the process of rolling out sites across Europe and have recently launched a Spanish site, es.bingo.com. Revenues for the third quarter [...]
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