FREE Gambling Affiliate Tips - Join Our Newsletter -

Welcome to Casino Affiliate Programs! If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.


+ Reply to Thread
Results 1 to 4 of 4
  1. #1
    Copywriter
    Join Date
    Jul 2008
    Location
    Irvine, CA
    Posts
    3,631
    Thanks
    103
    Thanked 344 Times in 256 Posts
    Rep Power
    21

    Default Poor Maiden Results from Devilfish

    Change to Entraction sees improvement starting

    From the CAP Newspage:

    October 24, 2008 (InfoPowa News) -- Devilfish Gaming plc, the London-listed online poker operation founded by British poker ace Dave "Devilfish" Ulliott, has reported poor maiden results but remains optimistic for the future following a switch to Entraction software.

    Maiden results for the year ending June 2008 saw the company post a pre-tax loss of £424,414 on a gross turnover of £21,763. In a statement this week, the company said the loss reflected the significant expense of preparing for flotation on the London stock exchange and building the infrastructure for further growth.

    On a more positive note, the statement noted that H.2 2008 had been more encouraging with average daily net gaming revenue rising from €455 to €1,512 by September 2008.

    Highlights of the corporate year included admission to the PLUS market, a switch in software provider and network from UltimateBet to Entraction for Devilfishpoker.com and continued brand and marketing affiliate network development.

    Paul Barnes, CEO, commented: "This has been an exciting year for Devilfish Gaming. Since listing on the PLUS market we have relaunched Devilfishpoker.com on the established Entraction network allowing us to target the U.K. and other markets. The Devilfish brand has helped strengthen our position as a multi-channel online gaming company.

    "We look forward to adding online bingo to our offering later in 2008 with the option of a sportsbook gaming product in the future."

    The company was incorporated on 16 October 2007, and on 12 November 2007 purchased 100 percent of the share capital of Devil Fish Poker Limited, a private company which was incorporated on 5 August 2005 and began trading in December 2005.

    On 5 March 2008 the company issued 12,000,000 ordinary shares at 10p per share, raising £1.2 million before expenses. The Placing raised approximately £1.03 million net of expenses to be used to fund the existing business, and its expansion.

    On 18 March 2008 the deal with Entraction was announced, providing Devilfish Gaming with two poker rooms as well as two online casinos offering a comprehensive range of popular gaming products. With Entraction's Malta licensing, Devilfish can gain access to U.K. advertising, one of its primary markets. The migration from UltimateBet network to Entraction was completed by May 19 2008 and has thus far resulted in significant increases in revenues.

    Devilfish.com now offers more than 170 different Poker and Casino games including the most popular Poker game variations and tournaments, Caribbean Stud, several table games such as Roulette and Blackjack, as well as a wide variety of slots with progressive jackpot, giving the on-line gamer a wide range of product choice.

    "We have also seen strong growth in new player registrations during this period," said a company spokesman. "We expect strong growth to continue for the foreseeable future, especially as some of our marketing and brand building activities are only now coming on stream."


    Nathan - CasinoAffiliatePrograms.com Staff
    Reply With Quote
  2. The Following User Says Thank You to Nathan For This Useful Post:

    FictionNet (10-25-2008)

  3. #2
    Senior Beer Member TheGooner's Avatar
    Join Date
    Jul 2005
    Location
    New Zealand
    Posts
    2,026
    Thanks
    114
    Thanked 366 Times in 204 Posts
    Rep Power
    25

    Default

    Quote Originally Posted by NathanCAP View Post
    Maiden results for the year ending June 2008 saw the company post a pre-tax loss of £424,414 on a gross turnover of £21,763. In a statement this week, the company said the loss reflected the significant expense of preparing for flotation on the London stock exchange and building the infrastructure for further growth.
    Gross turnover of JUST £21K ?!! FFS I'm sure most affiliates here are doing 2,3,5 or 10 times that !!


    Quote Originally Posted by NathanCAP View Post
    On 5 March 2008 the company issued 12,000,000 ordinary shares at 10p per share, raising £1.2 million before expenses. The Placing raised approximately £1.03 million net of expenses to be used to fund the existing business, and its expansion.
    170K in flotation expenses to raise 1,030K net?


    This guy might be a good poker player - but that is absolute crazy business processes - and this company looks destined for a cash crunch soon IMO.
    Reply With Quote
  4. The Following User Says Thank You to TheGooner For This Useful Post:

    FictionNet (10-25-2008)

  5. #3
    New Member thisisvegas's Avatar
    Join Date
    Oct 2007
    Posts
    313
    Thanks
    54
    Thanked 130 Times in 78 Posts
    Rep Power
    14

    Default

    Maybe he wants to be as popular as Johnny Chan ...
    Reply With Quote
  6. #4
    Senior Member alexpratt's Avatar
    Join Date
    Nov 2004
    Posts
    1,707
    Thanks
    152
    Thanked 792 Times in 447 Posts
    Rep Power
    25

    Default

    Quote Originally Posted by thisisvegas View Post
    Maybe he wants to be as popular as Johnny Chan ...
    and that closed......

    I was actually talking to a managed services company the other day who have taken a number of brands online and he said it is very hard to make money from an established brand or name - For example he took a brand online that I can guarentee we all know and already had millions of online users for their orignial site but the poker add on at its height raked just £12k a month before any costs

    Just goes to show its very difficult!
    Barcelona Affiliate Conference<------ 70+ exhibitors, 2 days of conference, multiple parties and 2,000+ delegates AND its FREE for all affiliates
    Financial Partners Expo - NEW event within BAC... Start making money in a new niche
    iGB Affiliate
    Online Rummy
    Reply With Quote
+ Reply to Thread
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •