The Weather Lottery forecasts a basis for return to profitability

The Doncaster-based group, which bought five-a-side football business Soccerdome earlier this year and online poker company Devil Fish Poker late last year, added it is looking for more acquisitions.

TWL entered into a conditional agreement to buy Devil Fish for £40,000 in cash and £290,000 in shares. The company was founded by Hull poker professional Dave Ulliott.

It also issued £375,000 in shares to buy an eight-pitch football business in Nottingham. TWL yesterday said it plans to improve the facility by upgrading the pitch surfaces and covering four of the pitches, which it said should improve profits.

“It is hoped that this will be the first of a number of such five-a-side facilities to be run by Soccerdome,” said TWL.

The group added it has streamlined its core lottery operations, significantly cutting operating costs. It has also renegotiated contracts with fundraisers, boosting monthly profit contributions from lottery operations.

However, the group said it is cutting its losses with its FC Betz subsidiary, which had online gaming tie-ups with football clubs, because it has been unable to access full databases of fans. “Given the competitive online betting marketplace, the future of the FC Betz subsidiary is not perceived as core to the group’s operations,” it said.

TWL is in talks to cancel contracts with clubs, which it said should lead to sponsorship costs being eliminated, but could mean legal action.