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Online Companies Overhaul Accounting

14 Jul 2006

UNITED KINGDOM – As reported by the UK Financial Director: "The most powerful companies in the online gambling industry have agreed to undertake a collective overhaul of their company reporting in a move aimed at standardising the sector's disparate accounting.

"At a special summit held in Gibraltar last week, PartyGaming, 888 Holdings, Ladbrokes, Sportingbet, CryptoLogic and Carmen Media Group agreed to implement a universal set of key performance indicators (KPIs) that will provide comparable reports in the sector.

"The largest groups will now disclose their cost per player acquisition, real money sign-up takings, unique active players and yield per unique active player.

"Analysts said the move from the leading internet gambling companies marked a huge stride forward for the industry.

"…The host of the KPI summit, Martin Weigold, the group finance director of PartyGaming, said that the agreement would enhance 'understanding of the industry'…."

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