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Significant revenue growth for Contagious Gaming
Friday, March 4, 2016 : THINGS LOOKING UP FOR ONLINE GAMBLING FIRM
Significant revenue growth in company's fiscal third quarter.
US online gambling platform provider Contagious Gaming had news that was good only in parts for investors this week, reporting that revenues in its fiscal third quarter soared 214 percent quarter-on-quarter to $678,700.
However there was a definite downside to the announcement as well - EBITDA fell again as the company recorded a loss of $272,600, albeit not as bad as the preceding quarter's when losses amounted to $456,363.
Adjusted earnings also remained under pressure, too - again down at $696,300 after the previous quarter's loss of $771,400.
CEO Peter Glancy remains upbeat, observing that the revenue increase was a positive sign, and adding:
"This improvement is primarily due to the closing of the Digitote acquisition in December 2015. We look forward to further expected improvement of our financial metrics as we report a full quarter of consolidated financials including Digitote's results."
Contagious acquired developer and provider of commercial-grade sports betting and horse racing technology Digitote last year in a deal worth $5.2 million
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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