Gaming firm gambles on poker and football deals

The Doncaster-based company, which has overhauled its board over the past year, added it continues to search for a new chief executive after the departure of former CEO Keith Milhench last summer.

The group said pre-tax losses increased to 77,000 in the year to the end of July 2010 from 48,000 a year earlier. Revenues decreased to 1.2m from 1.3m a year earlier.

TWL expanded into online gaming in July, establishing the brand name FC Betz to complement its established lottery management business, and also started a building sports lottery book under the FC Lotto brand. It signed a multi-year contract with Coventry City Football Club to become its gaming partner and has now signed contracts with eight football clubs. TWL aims to capture trade from registered players who place bets on sporting events, particularly football games, either at grounds or online.

Chairman Lord Razzall said: "The signs are very encouraging with now eight clubs signed up

to take gaming and lottery products offered by The Weather Lottery.

"Further products are being added, including casino, slots and online poker. The board continues to examine other development opportunities which are sport-related and which will complement the existing sports lottery and gaming operations."

Last month TWL continued on the acquisition trail, buying online poker company Devil Fish Poker in a 330,000 cash and shares deal.

The firm said the Devil Fish acquisition is part of its "strategy to reinvigorate TWL", providing a "significant and exciting opportunity" to bring together its gaming interests trading under the FC Betz brand.

Devil Fish was founded by Hull poker professional Dave Ulliott, a colourful character renowned in gambling circles. It is a subsidiary of Devilfish Gaming Plc, which is traded on PLUS-Quoted, an unlisted securities exchange.

TWL said the Devil Fish brand is recognised nationally and internationally, especially in Europe, and believes it can benefit from "the undeveloped potential to promote and exploit the brand".

It will target existing players as well as thousands of names

registered on the Devil Fish database.

TWL said there is potential for "significant international growth" based on the Devil Fish brand, such as further expansion into Asia and the United States.

"In addition there is the clear opportunity of significant cross selling of FCBetz.com products and the Devil Fish Poker brand into each other's respective databases, " said the company.