MANAGED GAMING SOLUTIONS PLC
Managed Gaming Solutions Publishes its Annual Report for Fiscal Year 2008
MANAGED GAMING SOLUTIONS PLC / Final Results 25.09.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- London, September 25, 2009 - Managed Gaming Solutions Plc ('MGS'), a leading provider of mobile & interactive gaming and micropayment solutions, has published today its Annual Report for 2008 and announces that an Extraordinary General Meeting will be held on October 23, 2009. In its second year in business, MGS - which had changed its name from Mobile Gaming Solutions to Managed Gaming Solutions in order to reflect the wider spectrum of its services offered to the customers - experienced positive developments on the operational front. After having laid solid foundations for future business activities and having build up an extensive global network of relationships with the mobile world, leading National Lotteries, and operational partners in 2007, the main goal for 2008 was to launch services in target territories and obtain the relevant 'mobile' lottery licensees. These goals were achieved with licensees for mobile lottery obtained by MGS in Latin America and the Caribbean region thus securing the ongoing growth strategy for the targeted emerging markets. Furthermore, mobile lottery operations went live in Peru and Suriname. The strong operational performances in these first countries demonstrate the high potential MGS technology has to offer. Another milestone for the company was the granting of a lottery patent covering several key Eastern European countries such as the Russian Federation and Belarus. Therewith MGS has successfully secured its Intellectual Property Rights for innovative mobile gaming products in a great number of important markets, where the demand for easy-to-play mobile games is constantly growing. In order to bundle know how und technology in the online gaming sector, MGS had acquired shares in five important companies. In 2008 MGS acquired 35% of the share capital of the Peruvian company Corporation Galena to establish live lottery operations in this region. Furthermore, MGS acquired 100% of Tatami Investments, a company owning patented gaming technology. Through its 100% subsidiary Pence Suomi OY, MGS acquired 100% of Bovatek Holdings Limited, a company owning online/mobile auction technology. MGS had trial runs in the UK during the second half of 2008 and will look to launch in various regions later this year. Additionally, MGS acquired 40% of MGS Caribbean, a company set up to establish live lottery operations in the region. In Matador Holdings, a Maltese company offering a fully maintained licensed online gaming platform services for consumer brands, MGS is invested with 5% of the share capital. Due to the fact that the company was still in its development phase, no relevant revenues were earned in 2008. More detailed financial results are provided in the Annual Report. 'We are proud of our achievements in the last year regarding to the technology development, we finally could demonstrate that the patented technology works well internationally and is scalable. We already had a very promising start into 2009 with lottery services launched in additional countries and a new patent granted for the Chinese market, which is already the biggest country in the world in terms of mobile users', comments Tero Turunen, Chairman of the board of MGS. 'Additionally, we enhanced our product range by adding micropayment services and technologies. Adding these new assets into our existing portfolio gives us a big advantage in the market, and with higher profit margins. Our micropayments platform, which we acquired in early 2009, is geared to handle massive volumes of transactions. We expect that this business line for MGS will grow significantly during 2009 and thereafter', Turunen added. 'Jointly with our lottery activities and micropayments products we are looking at generating close to EUR 2 million revenue this year. This naturally is a major change to last year which was still 'a year of investments and development' for the company. We are currently generating positive cash-flow on a monthly basis and therefore I am looking rather comfortably towards the year end with the above mentioned figure in mind, as well as the outlook for 2010 also looks good for us.' Turunen added as his final remarks. The board of directors is confident that in 2009 the company will establish itself among the leading mobile lottery service providers in the industry. With a scalable business concept and patented technology, a minimum amount of competitors and a strong management with significant expertise in the telecoms and new media industry, MGS offers the best conditions for successful business activities in the mobile gaming and Micropayments market. The Annual Report, including the audited financial statements, is available for download on the company's website www.mgscorporation.com. For any further information, please contact our Investor Relations Team directly: esVedra consulting GmbH t: +49. 89. 28 80 81 33 f: +49. 89. 28 80 81 49 info@esvedragroup.com www.esvedragroup.com About MGS Plc MGS Plc is a technology & service provider for mobile and interactive gaming, and for mobile micropayments sector. The company provides its customers with complete gaming solutions for a variety of cross media platforms; and a full payment software platform for the micropayments transactions. The main focus lies on lottery games, games of chance played via mobile handsets; and on variety of micropayment and microcredit products. 25.09.2009 Financial News transmitted by DGAP --------------------------------------------------------------------------- Language: English Company: MANAGED GAMING SOLUTIONS PLC 27/28 Eastcastle Street W1W 8DH London Großbritannien Phone: +44 208 133 6878 Fax: +44 207 250 3559 E-mail: info@mgscorporation.com Internet: www.mgscorporation.com ISIN: GB00B1QKRY38 WKN: A0MKW8 Listed: Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found