British interactive gaming firm NetPlay TV has revealed its preliminary financial results for the previous twelve months showing its revenues more than doubled to £19.8 million.

Over the last year, NetPlay has undergone a transformation from a mobile content to an interactive television gaming business. It has carried out a series of acquisitions alongside the launch of a number of new services to extend its reach into business-to-business solutions for retail, television and online partners.

Revenues increased 118 percent from the previous twelve-month period’s £9.1 million while the firm also reported its first positive earnings before interest, taxes, depreciation and amortisation results since it shifted focus to the interactive gaming business. NetPlay TV revealed earnings of £2.4 million for the year, compared with a loss of £1.7 million for the preceding financial year, while stating that trading for the first quarter of this year was in line with its budget.

The firm reported earnings of £455,000 for the first quarter of 2009 while gross monthly bets across its gaming operations exceeded £39 million in May.

'The belief that in time consumers would firstly demand a ‘live’ gaming experience on their personal computers and secondly would want interaction through their mobile phone is beginning to prove correct,' said Clive Jones, Non-Executive Chairman for NetPlay TV.

'We predict this demand will continue to grow as Internet connectivity speeds become faster.”


Source: iGamingBusiness.com