TWL upbeat after Soccerdome deal

The Doncaster-based company said April’s deal for Soccerdome, which owns and runs an eight pitch five-a-side football centre in Nottingham, and an improved performance from the core lottery division and its on-line poker and gambling site, provided a “sound basis” for a return to the black.

TWL directors believe there are “significant cross-selling” opportunities for its lottery and gaming products among users of Soccerdome facilities.

The firm said planned improvements to pitch surfaces and the provision of rooves for four of the pitches should get more out of the facility.

It said at least half the pitches will remain open for use during the changes. Work will start shortly and is expected to be finished by early autumn.

In a statement TWL added: “It is hoped that this will be the first of a number of such five-a-side facilities to be run by Soccerdome. The board is excited by the prospects for development of this subsidiary.”

Late last year TWL bought online poker company Devil Fish Poker in a £330,000 cash and shares deal.

Today it said it had minimal bank debt and was “well-positioned” to make more acquisitions.

TWL made a pre-tax loss of £77,000 for the 12 months to July 31 2010, compared to a £48,000 loss for the previous year, but said it was on a sound footing after completing a fundraising.