CORAL SPRINGS, FL, Aug. 15, 2016 /CNW/ - The mobile gaming industry continues to assert its dominance in the digital world, having already overtaken both PC and applications as the primary source of gaming world-wide. After topping $34 Billion in 2015, the mobile gaming industry continues to surge forward behind the development of new platforms and innovative gaming options for consumers. Recent developments, acquisitions and Quarterly reports issued of importance in the market today include:
Tapinator, Inc. (OTC: TAPM), an emerging growth company within the mobile gaming industry, today announced financial results and the filing of its quarterly report for the three months ended June 30, 2016. "Tapinator continued to show rapid business expansion in the second quarter of 2016," stated Tapinator CEO, Ilya Nikolayev. Driven by more than 18 million average monthly active users, our second quarter revenues grew 73% year-over-year to approximately $1,062,000, representing our eighth consecutive quarter of at least double-digit year-over-year revenue growth. Our revenue expansion in the quarter can be primarily attributed to the continued broadening of our Rapid-Launch Games portfolio, as well as to the highly successful launch of our Video Poker Classic title within our Full-Featured Games division. In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP earnings measure) of approximately $242,000 in the second quarter of 2016, an increase of 62% year-over-year, and our ninth consecutive quarter of positive adjusted EBITDA.
Read the full Tapinator (TAPM) Press Release at: http://financialnewsmedia.com/profiles/tapm.html
We are very pleased with our second quarter results as we saw significant year-over-year player and revenue growth rates combined with increased diversification of our revenue base. Player engagement accelerated toward the end of quarter and thus we believe the Company is well positioned to continue to deliver strong revenue and EBITDA growth during the second half of this year."
Financial Highlights for Tapinator Quarterly Report
- Quarterly revenues of $1,062,474; up 73% year-over-year
- Six-month year-to-date revenues of $1,911,086; up 86% year-over-year
- Quarterly adjusted EBITDA* (a non-GAAP measure) of $242,111; up 62% year-over-year
- Six-month year-to date adjusted EBITDA* (a non-GAAP measure) of $462,620; up 55% year-over-year
- $834,736 in cash and cash equivalents as of June 30, 2016
In other Gaming News and developments in the markets: Penn National Gaming, Inc. (NASDA: PENN) announced recently that it acquired Rocket Games, Inc. ("Rocket"), a leading developer of social casino games, for approximately $60 million cash, subject to working capital and other adjustments, including potential earn-out payments for certain members of the Rocket Games management team. The earn-out payments over the next two years will be based on a multiple of 6.25 times Rocket's then-trailing twelve month earnings before interest, taxes, depreciation and amortization ("EBITDA"), subject to a cap of $110 million for the earn-out. The transaction is expected to be immediately accretive to Penn National's operating results.
Nintendo Co. Ltd. (OTC: NTDOY) News: Recent Pokemon news includes a survey that found that the game has already generated $250 million in revenue, and a report that the Pentagon isn't keen on the game being played at its facilities. As reported by The Financial Times, pollster YouGov estimated the $250 million revenue figure from a survey of nearly 50,000 people in the U.S., U.K. and Germany. The augmented reality mobile game -- in which players try to capture Pokemon characters that suddenly appear on their mobile device screens -- was released July 6 in the U.S. and later in the month in most other countries, including the U.K. and Germany. The game is free to play, but players can buy in-game items that enhance the experience and help them advance.
In other Quarterly Report events: Zynga Inc. (NASDAQ: ZNGA), a leading social game developer, recently announced financial results for the second quarter ended June 30, 2016. In addition to today's press release, a copy of our Q2 2016 Quarterly Earnings Letter, which outlines our Q2 2016 financial results and business outlook, is available on our website at http://investor.zynga.com. Zynga management will host a live Q&A session at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today, August 4, to discuss Zynga's Q2 2016 performance. "We are continuing to make great progress in our turnaround. Our Q2 bookings and Adjusted EBITDA were both above the high end of our guidance range, with bookings at $175 million and Adjusted EBITDA at $12 million. In Q2, we launched 4 new games, including the successful release of NaturalMotion's highly anticipated CSR2. Our top live services saw growth, with Words With Friends, Social Slots and Zynga Poker delivering strong results this quarter. We are tightening our operating model and improving our cost management as we do more with less, particularly in marketing. While we have more work to do in our turnaround, I am encouraged to see the momentum we feel in our products and company show up in our results," said Frank Gibeau, CEO of Zynga.
Alibaba Group Holding Limited (NYSE: BABA) last week announced its financial results for the quarter ended June 30, 2016. Alibaba Group had an outstanding quarter. Our results show the scale and leverage of our ecosystem, as we strengthen our competitive positions in core commerce, cloud computing and digital media and entertainment," said Daniel Zhang, Chief Executive Officer of Alibaba Group. "The acceleration of our revenue growth reflects the deep value propositions that we bring to our customers. We are changing the way our 434 million active buyers engage with our platform, as we introduce social, community and personalization driven by smart data into our e-commerce marketplaces, realizing our vision of 'Live@Alibaba.' We are poised for strong profitable growth into the future."
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