BUSINESS

Perform profits from advertising; Amaya Gaming Group posts three-figure revenue growth; Bodog upgrades casino games

TAGs: Amaya Gaming, Bodog, Chartwell, Perform Group, Playtech

perform amaya bodogDigital rights supplier Perform Group has seen an 84 percent rise in profits in the opening half of the year following strong advertising revenue during Euro 2012. Total revenues increased 49 percent compared with last year to £67million with advertising contributing 22 percent of the total as opposed to last year when it was only 11 percent. In terms of the gaming industry, the firm has increased its number of Watch&Bet licensees by a third to 40.

Montreal-based Amaya Gaming Group saw revenue growth of 285 percent during the second quarter of 2012 following the completed acquisition of CryptoLogic. Revenue for the period amounted to $14.53 million whereas the company’s net loss widened slightly from $1.1m last year to $2.72m in Q2 2012. That was mainly down to marketing expenses related to new acquisitions and David Baazov, president and CEO of the group, which owns both Chartwell as well as Cryptologic, added: “We continue to deliver very strong revenue growth achieved both organically and through acquisition. The successful implementation of our growth strategy has led to a larger and more diversified customer base, as well as a more comprehensive product offering that improves our competitive position. Our recently completed financing provides us the resources to continue to execute and pursue some significant opportunities available in our industry.”

Bodog has decided to upgrade its entire casino games offering with Amaya owned-Chartwell Games handling their account from here forwards. The firm will switch to Chartwell’s suite of games on their Asian facing site and it means they’ll be alongside the likes of Gala Coral, Victor Chandler, Rank interactive and bwin in using the Chartwell’s games. Moving to Chartwell indicates the company will no longer be requiring the services of CTXM. Noises from Bodog suggest that certain members of staff have expressed worry at the fact CTXM is being taken over by Teddy Sagi’s Playtech and whether they can trust the firm. Those misgivings stem from the joint venture squabble with William Hill in addition to the fact that majority shareholder Teddy Sagi has spent time behind bars for both fraud and bribery. In the end it comes down to a show reel of questionable deals pulled off by Sagi in the past and the William Hill Online joint venture, in particular, going so sour late last year. Sagi’s stock market dealings and his firm’s issues around trust have been written about extensively here at CalvinAyre.com and we will continue to monitor changes in the landscape.

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