Empire Online Limited
18 October 2005
Empire Online Limited ('Empire Online' or 'the Company)
Trading Update
The Company announced on 10 October 2005 a separation in the gaming platform
used by PartyGaming players and that used by 'skins' of PartyGaming. Since that
date, the Company has seen a slowdown in rake generated by EmpirePoker.com.
Growth in new player sign-ups at the Empire Online network as a whole has
remained strong.
The Company now expects Empire Online's net profit for 2005 to be approximately
10 per cent. lower than consensus market estimates for the twelve months ended
31 December 2005.
The impact on Empire Online is on the value of the existing customer database of
EmpirePoker.com and not on the value and number of new sign-ups across the
Empire Online network. Empire Online is confident that the growth strategies it
has in place across its trading platforms, such as Noble Poker and Club Dice,
along with growth in new player sign-ups across the Empire Online network, will
deliver substantial net profit growth in 2006 (albeit at lower levels than
previously expected) and beyond. The Company will take all measures to protect
its revenues and continue the strong growth in new player sign ups reported in
the Q3 Trading Update.
CEO Noam Lanir commented 'The trend rate of growth at Empire Online remains
strong and we will continue to grow ahead of the industry. Due to the talent of
the team in place at Empire Online and the opportunities for organic growth and
consolidation in the industry I am very confident of the enduring future of this
company.'
Enquiries:
Empire Online +357 (2) 5 847 700
Noam Lanir, Chief Executive Officer
Andrew Burns, Chief Financial Officer
Andrew Burnett
Citigate Dewe Rogerson +44 (0) 20 7638 9571
Simon Rigby
Sarah Gestetner
Ged Brumby
This information is provided by RNS
The company news service from the London Stock Exchange LIE
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