The interactive gaming company NetplayTV has strengthened its balance sheet by raising £2.5m through the issue of further shares 3p a share. After expenses the company claims it will benefit from £2.41 to finance the completion of its restructuring program.

Clive Jones, non-executive chairman claimed: “The funds raised through this placing will ensure NetPlayTV is able to complete its restructuring.

“And, we believe with a renewed focus on its core ‘live’ casino products will allow the business to return to a sustainable profitable state. We will keep the market updated of future developments.”

At the end of September, Mr Jones, said that Netplay, had agreed a six-month trial to launch its roulette game as well as ‘Bingo Stars’ its new interactive soft-gaming tele-shopping format on ITV1.

The company from Lancashire reported a 21 percent increase in revenues to £11.3m for the six month period to the 30th June. Losses rose to £7.9m from £3.2m. Revenues from the casino operations for the period increased 73 percent to £8.8m.