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Online Casino Group Announces Interim Results

The group has made significant progress since it floated on AIM in March 2004

Wednesday 31st August 2005

Interactive Gaming Holdings Plc announces its unaudited results for the six month period from 1 December 2004 to 31 May 2005. Turnover rose to £1.66 million and it made a loss per share, basic and diluted, of 1.02p (2004: loss of 0.88p). This includes only three months turnover contribution from Heathorns, which was acquired in March 2005.

According to the chairman’s statement the group has made significant progress since it floated on AIM in March 2004, with turnover growth driven by a combination of value enhancing acquisitions and organic developments.

“We have started to leverage the well established Heathorns brand and its customer base and the first phase of this strategy is underway with the imminent launch of Heathorns' new website which will offer an integrated sportsbook, casino, fixed odds games and poker service,” Thomas J. Taule, Founder and Chairman/CEO said.

IGH also acquired Premier Bet on 1 August 2005 for a total consideration of £1 million.

“We believe that the acquisition of Premier Bet is an excellent strategic fit. The enlarged Group will be operating businesses with the prospect of annual turnover in excess of £25 million,” Taule continues.




Source: OnlineCasinoNews