NetPlay to miss full year targets

INTERACTIVE gaming company NetPlayTV has said low uptake of its new mobile product  for TV games will impact profitability and  full year performance.

The Lancaster-based company launched the Bingo Stars TV product on May 27, along with a complementary mobile product to allow instant game play. This and its Challenge Jackpot game are broadcast online and on Virgin 1, STV, and ITV’s teleshopping channel.

However, the company said that although is “still very early days” revenue from these instant game players had been ““much lower than anticipated”.
 
The company added: “It is becoming clear that we need to be very flexible in our product outputs and, on June 21, we altered our format and scheduling to trial an alternative format in our earlier segment. “

It warned that this move from an instant play model to a more traditional game play, as well as increased first half costs, will impact its short term profit performance, and will have a significant impact on the full year market expectations.

It said: “The focus on developing new formats, moving technical platforms, migration offshore and improving our core offerings has been a major upheaval for the business; as a result costs have increased substantially in the short term.”