SUPERB RESULTS

REG - Optimal Payments PLC - Interim Results19 Sep 2012 - 07:01

For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20120919:nRSS5828Ma RNS Number : 5828M Optimal Payments PLC 19 September 2012 Optimal Payments Plc Interim Results for the six months ended 30 June 2012 Strong first half growth, on track to exceed full year market expectations Optimal Payments Plc (LSE: OPAY) ("Optimal Payments", the "Group" or the "Company"), a leading online payments provider, today announces its results for the six months ended 30 June 2012. Highlights · EBITDA(1) up 76% to $11.2m (H1 2011: $6.4m). · Revenues up 37% to $78.9m (H1 2011: $57.4m). Fixed costs marginally down following headcount reduction in Q1. · Profit before tax $1.7m (H1 2011: loss of $4.1m). · Strong organic growth from NETBANX Straight Through Processing division ("STP"), up 68% to $61.9m (H1 2011: $36.9m) with continued strength and growth in Asia. · NETELLER Stored Value ("SV") revenues down to $16.2m (2011:$18.0m(2)) principally as a result of the fallout from Black Friday(3) in H1 2011. § Initiatives undertaken in H1 have produced improved results in second half to date. Major investment in NETELLER SV platform now complete and cost base aligned. § US online gaming opportunity taking shape. · Strong demand from existing customers and from new customers won during the first half including Ford Credit, Hockey Canada and Rona. Commercial agreement signed with Lotus F1 Team. · Strong H1 revenue exit run rate positions the Company for further growth in second half and on track to exceed the market consensus full year expectations. Financial summary (unaudited) Six months ended 30 June 2012 2011(5) US$ million US$ million Revenue Straight Through Processing (NETBANX bureau & gateway services) 61.9 36.9 Stored Value (NETELLER eWallet & Net+ cards) 16.2 18.0 Stored Value - discontinued revenues (4) - 2.1 Investment income 0.7 0.4 Total Revenue 78.9 57.4 EBITDA (1) 11.2 6.4 Profit/(loss) before tax 1.7 (4.1) Tax (charge)/recovery (6) (2012 charge relates to 2004/5 period) (2.5) 0.5 Net loss for the period (0.8) (3.6) (1) EBITDA is defined as results of operating activities before depreciation and amortisation and exceptional non-recurring items which are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant to explain the performance of the Group. (2) Excluding discontinued revenues - see note 4. (3) "Black Friday" refers to the regulatory action taken in April 2011 against certain major poker operators which resulted in many players ceasing to play poker worldwide. (4) Discontinued revenues were derived from e-money expiry which is now subject to different rules under the Electronic Money Regulations 2011. (5) 2011 comparables include only 5 months of revenues and costs from the OP Inc business acquired on 1 February 2011. (6) Tax charge in the period relates to expected reassessment of 2004/5 Canadian taxes following a review by the Canadian Revenue Agency which commenced in 2005. The Board has made a full provision for the amount it believes it is likely to be required to pay in respect of withholding taxes and interest. See note 17 in the Financial Statements for more detail. Commenting on today's results announcement, Joel Leonoff, President & CEO, said: The combination of NETELLER and OP Inc. has produced a multi-faceted payment product offering and positioned the emerged business Optimal Payments Plc to benefit from a rapidly evolving online payment market. Our efforts have resulted in a fully integrated and right-sized business with an efficient cost base. Our operationally geared business model, continued focus on product development and R&D, along with our strong presence in the internet payment market have combined to produce significant organic revenue and EBITDA growth. Our H1 results and strong foundation position the Company well for further growth in H2. The online payment industry continues to consolidate and the Group should benefit from the expected significant growth in both the online and mobile commerce markets. We see substantial opportunities to provide innovative solutions to merchants and consumers in both the NETELLER eWallet and NETBANX

Just out.......

Restoration of America’s Wire Act Bill Introduced Into Legislation
by SADONNA PRICE on MARCH 27, 2014
Like this story? Share it!

As we reported just a few days ago, US legislators have been working to restore the Wire Act and do away with state regulated online gambling in the United States. A bill was circulating in draft form with the title ‘Internet Gambling Control Act’ and has now been introduced formally as the Restoration of America’s Wire Act. The new bill was created by South Carolina State Senator Lindsey Graham and Utah Congressman Jason Chaffetz.

It was just three years ago that the US government decided to deem the Wire Act of 1961 as applying only to sports betting. This allowed for states in the US to create legislation that would legalize and regulate online casino and poker gaming options, such as the case in Delaware, Nevada and New Jersey. However, now Graham wants this decision to be reversed.

During a news conference on the subject, Graham stated that the decision by the Obama administration has ‘virtually allowed’ every cell phone and computer to become a video poker machine. Graham feels as though this is not right and wants to see the decision changed. A big problem with this bill is the fact that states that already have regulated markets that are fully operation will be affected. A carve out has not been put in place to protect what Nevada, New Jersey or Delaware have already established.

While Graham and Chaffetz have Sheldon Adelson, the CEO of the Las Vegas Sands, working towards banning online gambling, proponents have the Coalition for Consumer and Online Protection. The group has been tirelessly working to stop any bill that is anti-online gambling. As reported in a Card Player interview, Mary Bono, the chairwoman for the group, stated that with a ban of online gaming, black markets would take over and consumers would be less safe in the end.

So the fight continues. For gamblers the hope is that these types of bills will be stopped in their tracks so the iGaming market can continue to grow and expand in the US.

Surely the US must have lost billions in tax revenues since the ban years ago. What is the problem?

People want to gamble on Polka etc., is no worse than us gambling on the stock exchange.

People will drink, smoke, gamble, steal to feed which ever habit or addiction they may have acquired. People drink and drive knowing whatever the consequence.

Am I missing something?

Had a stressful day with hospital appointments etc., so may seem a little over the top.

What you seem to be missing 3m is that the land based casinos are controlled by the Mafia and the Mafia also own certain US politicians. Back in 2006 they werent going to allow new companys start on the web and take away some of their profits.

Since then in certain states they have manouvered and now also have their finger in the pie in online gaming.

I sold out because I remember 2006 very well and was shocked to see online gaming banned. It literally happened over night. I lost a lot of money, so Im out now because I dont want the same thing to happen.

Their seems though today a lot more pro online gamers so it might all be a storm in a tea cup like I said last week.

Dont worry.

OPAY surely have to say something in the results tomorrow and I think they will be good results.

Thanks gf, 2006 I lost a lot of money also - it has stayed dormant for all these years so not lost completely for me - as many others of my sad buys. Revenues/taxes must have lost the states billions of pounds by their ban and I do not think they can afford in this day and age to let it happen again, my views - and hope I am correct. Mafia is in control all over the world and I do understand that, one example - as in even simply buy a time share, which part does one own of a property i.e. a brick?

We shall see - not too worried at the moment. More worried about all the scans and results I am waiting for at the moment and as long as I can live to make a profit and enjoy whatever rest of my life then fine. I have made too many bad calls on gambling on the stock market, whenst I would not even put a shilling in a one arm bandit. Ah! well - it will all be revealed. Good night.

Good results didn't lift this .

Im amazed when I last looked here they were 4% plus this morning.

Whats happened more news out from US?.

Must admit they looked kind of coy the way I read the results on online operations refering to Europe and tagging US on at the end and saying the REGULATED US market.

Suppose under the circumstances they couldnt have done it any other way.

What this one needs now is the pro gaming crowd to move quick and swamp the spoilers.

Heres the bad news......

Online Gaming On Hold In Illinois
by SADONNA PRICE on MARCH 28, 2014
Like this story? Share it!

Illinois State Seal (Robert and Josh Kinney Edition)_fullThe state of Illinois has been listed as one of several states in the US that have been considering entering the online gaming market. Illinois Senate President John Cullerton has readily stated that he approves online poker regulation in the state and talks have taken place on several occasions about legislation, but now it seems state leaders will be waiting until new land based casino talks are completed before moving forward.

According to a recent press conference held on the Illinois state budget, Cullerton stated that online gaming is something that will be offered in the state eventually but will not move forward until the case of new casinos in the state has been resolved. Until the state can decide on what to do with land based gaming, online gaming will be pushed back. Right now there are two proposals for casinos in the state that must be considered. One proposal would allow a casino in the Chicago area while the other would create licensing potential for five different properties.

Cullerton is hoping that a resolution will be found soon for land based gaming. There are many factors at play according to the Senate President such as those who do not believe in gaming, horse racing interests, casino interest, etc, so there is pressure from all sides to create the perfect bill.

While online gaming seems to be on the docket for the state, it may be some time before the state gets on board. 2014 has become the year of anticipation as players wait to see which states will join Nevada, Delaware and New Jersey with providing online casino and poker games. Many predicted that Illinois would be in the running, but now it seems that it will be some time yet before the option is available in the state.

Like this story? Share it!

Ho, Ho, Ho, the joys of having shares - the stress and the wanting more dosh in my case - wonder where it will go to now? Good weekend all and I shall be having not what the doctor ordered - a few g and t's and sod it. I can't believe I haven't started smoking again, ha!

Hey 3m you keep the faith the spoilers havent won yet.

NO WAY.

Theirs a lot in the US that want to go forward and forget the old days of the crooks running gambling.

Stick in their, remember it doesnt take much to move these up.

Have a good weekend. gf

Cheers gf.

Looks like it is going to be another bad day on here!!

Perhaps you should or could have cashed in at £5.,.

Correct perhaps I should bb. Did not think this was going to happen.

Some good news for a change.........

Online Poker Bill Proposed in New York State
by SADONNA PRICE on MARCH 31, 2014


Since 2014 began, all eyes have been on the online gambling market in the United States. Lists have been made as to which states are most likely to join Nevada, New Jersey and Delaware by offering online poker or casino gaming, and we all have wondered ‘who will be next?’ Hot off the introduction of a federal bill to make online gambling illegal, the state of New York has now seen a proposal for not only online poker but intrastate options as well.

Just after Senator Lindsey Graham and Representative Jason Chaffetz introduced a federal bill to restore the Wire Act of 1961, New York State Senator John Bonacic unveils a new bill, S 6913. This new bill looks to regulate intrastate poker online for anyone located inside the state. The Senate Committee on Racing, Gaming and Wagering are now looking over the bill, in which Bonacic is the chairman.

The new bill proposes that New York begin to offer online poker in both cash and tournament form. Ten online poker licenses would be up for grabs that are good for a decade time span. The fee to obtain a license would be $10 million. Those who obtain a license would see a tax rate of 15% of the gross gaming revenues.

A bad actor clause is included which states that any person or asset that was involved in taking any wagers, poker included, from the United States after December 31st of 2006 seems to be disqualified from gaining a license. According to the new proposal, allowing an operator who took wagers after the UIGEA was enforced would create an unfair competition with those who respected both the federal and state laws. The new bill also includes a compact option so that the state can share player liquidity with other states in the US.

According to the Poker Player’s Alliance Executive Director, John Pappas, the new legislation has been in the works for some time. Pappas stated to OnlinePokerReport that he met with legislative leaders of New York last year and they had expressed a deep interest in regulating online poker. State leaders did not want to be left behind in the new market.

Can I expect a rise tomorrow then?? A pity they did not ban people from getting so fat that they cannot walk - only been to the states once and never seen such sights, nearly made me sick watching some of them eat. Thanks gf. Lets hope a load of do do over nothing. mmmmm!!!!

i've never understood the allure on on-line gambling .... seems to me that there are loads of professional poker players just waiting in the wings for pigeons to alight
anyway, fwiw, here's a more easily read chart .....

Thats more like it a return to form.

In lay persons terms gf what did the last rns actually mean - loan pledge etc.?

The guys borrowed some money from the company for a private purchase, but its underwritten. Should be no probs.

if you believe that you'll believe anything 3m.........lol