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NetPlay TV loss widens

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CIOL Bureau
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SAN JOSE, USA: British interactive gaming company NetPlay TV Plc posted a wider pretax loss for the full year 2009, mainly hurt by one-off costs and higher operating expenses, but said it expected to benefit from Google TV.

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The company said it expected Google TV - a service that will bring the web to television screens by the autumn of 2010 - to open up online gambling to millions of more players.

NetPlay, which undertook a transformation from a mobile content business to an interactive TV gaming business in 2007, said it made an earnings before interest, tax, depreciation and amortization of 0.2 million pounds ($293,800) in the first quarter of 2010.

For the year ended Dec. 31, 2009, the company said its pretax loss widened to 11.1 million pounds from 1.0 million pounds in 2008.

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Revenue grew 9 percent to 21.6 million pounds, while cost of sales rose 32 percent to 17.0 million pounds.

The company invested heavily in technology and partnered with media channels like Virgin Media Television, Channel Five and ITV1 following Ofcom's ruling in June last year allowing terrestrial broadcasters to air transactional gaming shows.

"We are confident that initiatives such as Google TV, will have a significant, positive impact on our growth potential," non-executive chairman Clive Jones said in a statement.

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