Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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GameAccount Network plc2013 Full Year Results 2013 a Transformational Year Uniquely positioned for further growth LSE: GAMEISE: GAME GameAccount Network plc ("GameAccount Network" or the "Group"), a leading developer and supplier of enterprise-level B2B gaming software and online gaming content, is pleased to announce results for the year ended 31 December 2013. Financial Highlights -- Net Revenue increased by 123% to GBP12.3m (2012: GBP5.5m) -- Clean Ebitda1 increased by GBP3.8m to GBP4.1m (2012: GBP0.3m) -- Profit before tax for the year increased to GBP1.6m (2012: Loss of GBP1.0m) -- Earnings per share increased to GBP0.04 (2012: GBP0.01) -- Placing and admission to AIM and ESM raised GBP15m2 to accelerate growth -- Strong balance sheet: cash and cash equivalents increased to GBP16.9m (2012: GBP1.7m) Strategic & Operating Highlights -- Launch of real money gaming platform in newly regulated New Jersey via Betfaircasino.com under the Trump Resorts International brand -- Partnered with Foxwoods Casino in Connecticut in advance of the launch of Simulated Gaming product in January 2014 -- Enhanced Simulated Gaming player economics exceeding internal projections and in excess of 3x published social casino gaming player values -- Game development and distribution deals with KONAMI Gaming, Multimedia Games, Reel Time Gaming and Gamomat launching in 2014 -- Significant growth in higher margin revenue streams including a major platform sale and increased third party game development deals -- Increased gross income from Italian market from the distribution of third party slots content -- Continued investment in Internet Gaming System software platform and in the US market through recruitment of US management and the opening of Las Vegas, Nevada office -- Post year-end, signed new partnerships with Net Entertainment for game distribution in Italy; and with Osage Casinos in Oklahoma and New York's Empire City Casino in the United States Dermot Smurfit, CEO of GameAccount Network commented: "2013 was a transformational year for GameAccount Network. Net revenue has more than doubled and EBITDA increased from GBP0.3m to GBP4.1m. We have made real progress in delivering on our strategic initiative to develop sustainable higher margin revenue streams while positioning the Group for growth in regulating markets. We also successfully raised GBP15 million2 through an institutional placing in November 2013 and listed on the AIM and ESM markets of the London and Irish Stock Exchanges. We have a strong balance sheet with almost GBP17 million in liquidity to accelerate our growth in 2014 and beyond. We continue to invest significantly in recruitment to support increased product development and sales & market