The online gaming group reported net gaming revenues across all gaming platforms excluding Empire Poker of $17.6m, an increase of 42% on the last quarter of 2005.
In February 2006 the dispute with PartyGaming was successfully concluded with the sale of the Empire Poker platform for $250m. Empire Online\’s remaining online platforms, Noble Poker and Club Dice, have continued to grow in line with management expectations.
Number of new real money players across all gaming platforms excluding Empire Poker rose by 36,242 for Q1 2006, which represents an increase of 12% over Q4 2005. Non-US players accounted for over 50% of all new real money signups.
Cost per acquisition of new real money players has been maintained at the lower end of the normal range at $222 (Q4 2005:$225). Unaudited earnings before interest, tax, depreciation and amortization and exceptional non-recurring items for Q1 of $8.5m (Q4 2005:$8.8m).
Empire Online, which has $259m of cash on its balance sheet as of the end of the quarter, is actively seeking to acquire complementary gaming businesses in such areas as sports betting, skill games and bingo as well as exploring further poker and casino acquisitions.
Commenting on today\’s trading update, Noam Lanir, CEO, said “I am delighted to report on such strong growth in our core businesses. Empire Online is in a strong and stable position and I look forward to this year being one of further progress for the company through the continued growth of our existing business and additional growth from the an acquisition programme which will diversify the Company\’s product and geographic reach.”
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