NetPlay TV records 30% earnings drop in 2014

Interactive igaming operator NetPlay TV posted its 2014 full year results recording an adjusted EBITDA decline of 30% to £3.6 million (FY 2013: £5.2 million). A tough 2014 had seen the operator record a higher operational and administrative expenses.

Netplay TV who on Thursday had announced a broadcast partnership extension with Channel 5 UK, recorded its first year of losses, posting profits of -£100,000. The operator had further seen a 4% decline in gaming revenues to £27.3 million (FY: 2013 £28.5 million). Netplay TV maintained its cash equivalents to £14.2 million

The operator’s governance noted that 2014 had been a year of strategic change as NetPlay TV appointed new CEO Bjarke Larsen. The company had further undertaken extensive streamlining of its business operations in preparation for the 2015 POC duty.

2014 had also see the implementation of a new marketing strategy aimed at improving player acquisition and player revenues on NetPlay TV brands Jackpot24/7 and SuperCasino.

Company governance was pleased to announce that it had recorded a 19% increase in new depositing players to 75,687 (FY2013: 63,832) and 20% increase in active depositing players to 101,532 (FY 2013: 84,833)

NetPlay TV outlined that it had also improved operational functionality across its brand with the implementation of a single wallet and further upgrades to its mobile gaming products, which it hoped would improve 2015 performance.

Commenting on the results, Bjarke Larsen, NetPlay TV’s Chief Executive said:

“We are pleased to announce that the Group performed in-line with market expectation in 2014.

“The recently announced Channel 5 deal clearly illustrates our strong focus on TV as a marketing strategy and the fact it remains our key USP. In addition we have addressed and implemented a successful marketing review that is yielding good results.

“Whilst the full environmental impact of the Point of Consumption duty on the industry is yet to be seen, we are confident with our post-POC operational strategy and believe the Group is in a strong position for opportunistic M&A. We look forward to the year ahead with confidence and to creating long term value for our shareholders.”

Netplay TV 2014 Performance Overview