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Orbis buys Electracade for £2.6m to grow interactive gaming interests

Posted on | December 4, 2008 | No Comments

Integrated gaming and betting solutions provider Orbis has expanded its interactive gaming offering through the acquisition of UK-based games developer Electracade.

Orbis will make a cash payment of £2.6 million for the entire share capital of Electracade, with further payments conditional on the performance of the company whose clients include the likes of 888.com.

The acquisition means that Electracade with join Orbis in the Nasdaq-listed NDS Group of companies, a  corporation with a market capitalisation of $2.8 bn (£1.9bn).

NDS acquired Orbis in December 2000 and was itself acquired recently by Rupert Murdoch’s News Corp and two funds managed by Primera Advisers. The company reported revenues of $182.2m (£124.6m) for the quarter ended September 30th, with a lower than expected net profit of $13.4m (£9.2m).

NDS is expected to give up its Nasdaq listing and be taken into private ownership in early 2009.

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Mobile gaming tipped for biggest growth in 2009 new report claims

Posted on | December 3, 2008 | No Comments

A new report predicts tips mobile gambling to be the major growth area for gaming services in 2009.  Juniper Research expects total wagers via mobile phones will more than double to over $3.6bn (£2.4bn) even though spending on mobile TV and games will be adversely impacted by the global economic downturn.

Report author Dr Windsor Holden says online gambling is an essentially “recession-proof” industry, adding: “While there may be marginal reductions in the level of stakes amongst casual users, the overall appetite for gambling per se will be unaffected. Furthermore, with the growing availability of betting services on-portal, the mobile is an increasingly convenient and user-friendly means of placing a bet.”

Holden’s report also notes an overwhelming majority of leading European bookmakers now offering mobile platform betting services, many partnered with leading network operators.

One shadow on the horizon is regulatory restrictions which he warns are a key impediment to mass adoption even in countries where mobile betting services are permitted. The report argues for national and state governments to implement a clear and transparent framework governing all forms of mobile services for the benefit of both consumers and service providers.

Looking back over the last 12 months, the report says sports betting will eventually account for 75% of all gambling on mobile handsets in 2008 with casino-type gambling the second-largest sector. UK players alone will place more than 30% of all mobile bets globally in 2008, although it predicts this proportion will decline to just 8% by 2013 as services are increasingly deployed elsewhere. Looking forward, it predicts the annual global gross win from mobile betting services will exceed $1bn (£675m) by 2012.

Juniper Research, a telecoms analysis consultancy specialising in the mobile and wireless sector with particular emphasis on business models, applications, content and device strategies, based in Basingstoke, Hampshire, used interviews, case studies and analysis from representatives of some of the leading players in the burgeoning mobile gambling industry.

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Revenue rise fails to halt casino groups’ share slides

Posted on | December 2, 2008 | No Comments

By IAN EVANS

Macau’s first increase in gaming revenues for three months, reported yesterday, failed to lift the gloom and shares in Las Vegas-based casino operators with resorts there fell after the news. The better than expected 3% rise followed a 3% fall in October and a 1% drop in September.

The “winner” in terms of smallest loss was MGM Mirage, operator of the MGM Grand Macau, which fell $1.39 (93.7p) per share, or 11.6%, on the New York Stock Exchange to close at $10.59 (£7.13). Wynn Resorts Ltd., operator of Wynn Macau, fell $5.95 (£4.01), or 14.9%,  to close at $33.87 (£22.84).

But hardest hit were shares in Las Vegas Sands Corp., which operates The Venetian Macau, Sands Macau and Four Seasons Macau, dropping $1.17 (78.7p), or 22.6% of their value, to close at $4 (£2.70). Last month, Las Vegas Sands suspended construction activities on Macau’s Coati Strip.

Yesterday’s figures showed Macau gaming revenues at approximately $940m (£633m) in November, up $20m (£13.5m) on the same time in 2007. However, that compares with a 49% increase year on year between November 2007 and 2006. Figures for the whole of 2008 through November, show revenues up 36% on 2007 at approximately $12.6bn (£8.5bn).

in September, the Chinese government tightened visa restrictions for residents of neighboring provinces travelling into Macau, the only area in China where land-based casino gambling is allowed. There are hopes that the rules will be relaxed next year. Tourism rose 8% in October and visitor numbers over the 10 months are 14.5% up.

The restrictions do not affect trips to Macau from Hong Kong. Macquarie Capital analyst Gary Pinge, who is based in Hong Kong, also thought Beijing might ease visa restrictions.

“We remain positive on the longer-term outlook for Macau’s gaming market,” Pinge said in a note to investors. “The fact that China had to implement five separate visa restrictions in order to slow Macau’s gaming revenue growth should highlight to investors the level of pent-up demand for gaming services from mainland China. Our view remains that mainland China is supportive of Macau over the longer term.”

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