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Gambling: ParlayEntertainment revenues plummet 93 percent

9/9/09 - Candian bingo software developer Parlay Entertainment is experiencing tough times, judging by its latest financial disclosures, which reveal that the firm has sustained a 93 percent drop in revenues in Q2 2009 compared with the same period in 2008.
 
Second quarter revenues sank to $696 649 (Q2 2008: $2.38 million), bringing half year 2009 revenues down 55 percent to $1.62 million.

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Unaudited net income for Q2 2009 showed a loss of $500 372 compared to the same period last year when net income reached $267 532 . Parlay revealed it was in the red $673 974 over the first half of 2009.
 
The software company has total current assets of $3.11 million, down 23 percent year-on-year from $4.05 million last year, while Q2 EBITDA recorded a loss of $645 954 (Q2 2008: $507 651). The first half numbers were even gloomier, showing EBITDA of -$886 203 (H1 2008: $145 096).
 
On the positive side, Parlay managed to cut Q2 expenses by 28 percent to $1.35 million due to ‘reduced compensation expenses together with the absence of certain non-recurring expenses from the second quarter of 2008’. At the half-year mark, expenses were $2.53 million - down from $4.17 million last year and for the same reasons.
 
“Throughout our second quarter, we continued to make a significant investment in the establishment, development and organisation of our managed solutions offering in Alderney and Canada through Parlay Games Services,” said Scott White, Chief Executive Officer for Parlay.
 
“The remaining months of 2009 will be used to aggressively expand that service through the addition of new customers and brands across multiple languages and currencies.”



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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