NetPlayTV Buys Majorca-Based Gaming Site

TV/internet gambling operator NetPlayTV is buying, a Majorca-based gaming site, for £6.25 million. It plans to converge the fast-growing online bingo sector – which is going great guns for the likes of Sun Online – across the web, TV and mobile. It said players are spending over £10 million per month and getting £9.6 million in prizes. It reported earnings of over £1 million on over £145 in bets during the last year, having paid £138 million in prizes.

NetPlayTV will pay £6 million in cash to the owners, Global Gaming Entertainment and Euro Gaming, and is being funded by placing 40,000,000 new shares at £0.15 each. Spanish mobile content operator Zed has bought itself an 11.2 percent stake in NetPlayTV, which has just had other investors, too. Founded in 2001 and listed on AIM, NetPlay operates its Live Roulette and Big Box Bingo games at night on BSkyB (NYSE: BSY) satellite and simultaneously via dedicated websites.