Interactive gaming firm NetPlay saw a surge in third quarter revenue after a strong uptake in new depositing and total depositing customers year on year.

NetPlay, which operates a number of interactive gaming services under an Alderney gaming licence, including Supercasino.com and Jackpot247.com, said during the third quarter (Q3) it saw a 52% increase in new depositing casino players to 11,978 compared to the same period in 2011. Revenue rose 34% year-on-year in the quarter.

Active depositing casino players increased 42% from the same quarter in 2011 to 22,417. However it was down 1% from the second quarter of 2012.

NetPlay said its third quarter key performance indicators are significantly ahead of the same period in 2011.

"The company is particularly encouraged by the uptake of its mobile and tablet offering where revenues have increased by 107% versus Q3 2011. Mobile and tablet gaming continues to be a key focus for the company and during the period it has launched mobile slots games which will significantly enhance the existing TV roulette mobile offering," it said in a company update.

NetPlay added that in view of its recent performance, it is confident of meeting full year market expectations.

Broker Daniel Stewart has retained its "buy" recommendation and price target of 14p, saying: "There are no changes to our forecasts today. However, we believe our estimates are well underpinned given the positive trading update today and the new product launch (slots) on mobile. We look for 24% EBITDA [earnings, before interest, tax, depreciation and amortisation] growth year-on-year to £4.1m for full year 2012 estimated."

CJ

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