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Chartwell Q1 Revenue Decline
Posted 3/19/11 : But is working aggressively to get back on track to growth
Canadian gaming provider Chartwell Technology Inc (Chartwell) announced its financial results for the three months ended January 31, 2011 this week.
Fiscal highlights for its first quarter, the three months ended January 31, 2011include:
- 10.3 percent decrease in total revenue to $2.2 million (Q4/2010: $2.4 million)
- License revenue declined by 10.9 percent due to the loss of a significant licensee (Betfair)
- Net loss of $1.9 million over the period increased from the net loss of $796,000 for the three months ended January 31, 2010
- Continued balance sheet strength at the end of the period of $15.3 million in cash and working capital of $16.3 million.
Operating highlights include:
- Deployment of a flash-based casino to Centrebet
- License agreement to supply online casino games to the Rank Group
- Four new games releases
Alan Richter, CFO of Chartwell comments on the first quarter of 2011 results: “Chartwell is working aggressively to replace the decline in revenue that occurred over the last year. Winning new business with both Centrebet and Rank are important steps and we believe that all the new casino content including our new relationship with Live Dealer supplier Ho Gaming will allow us to get back on track to growing revenue.”
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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