$ £

NetPlayTV Issues 4th Quarter Trading Update

Online and television betting group NetPlayTV has released their fourth quarter 2014 trading update, noting an increase in players for the period.

Key highlights for the period were:

  • 4 percent increase in new depositing players to 16,249 (Q4 2013: 15,648)

  • 3 percent increase in active depositing players to 33,073 (Q4 2013: 32,163)

  • Full year underlying results expected to be in line with current market expectations

  • Bjarke Larsen is appointed Chief Executive Officer

  • Quarterly revenues were £6.4 million, relatively flat when compared with the same period last year.

The company also announced that they are taking a more efficient stance on marketing efforts, having eliminated "onerous and inefficient marketing contracts", and are working with TV channels to maximize their results.

A company statement on the matter read: "These strategic changes are already delivering encouraging results. Overall Q4 marketing spend has been reduced, the average cost to acquire new depositing players has fallen and average revenue per player has increased."

Regarding the new UK point of consumption tax the statement revealed, "The point of consumption ('POC') tax became effective from 1 December 2014. Despite this, the group's business remains cash flow positive. The directors believe this, coupled with its strong balance sheet, will put NetPlay in a good position to take advantage of potential consolidation opportunities."