Interactive Gaming Holdings, the online sports betting and gaming operator owner of PremierBet and Heathorns, announced an increase in turnover up to £8.85m for the first half of 2006 (H1 2005: £1.66m) and an operating loss of £0.93m, up from last year\’s loss of £0.32m.
IGH, which appointed John Heaton as Chief Executive, completed the implementation of the Orbis OpenBet software platform and launched redesigned websites for PremierBet and Heathorns as well as the new PremierBet Casino.
After an excellent soccer World Cup, during which the group took bets totalling more than £5m and returning an 8% gross profit margin, IGH expects to be profitable at the EBITDA level in Q3 2006.
Arbuthnot Securities was appointed nominated adviser and broker to the company with immediate effect.
“The first half of our financial year was a period of significant change at IGH with the creation of an infrastructure to enable us to drive future growth, the implementation of the new Orbis software platform and the development and launch of our Casino. The costs of these investments were in line with expectations and place the Group in an extremely strong position going forward , with the benefits already being felt. We have two strong brands in PremierBet and Heathorns and we are ideally placed to drive profitable growth,” commented Chief Executive John Heaton.
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