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Q3 For parlay Declining revenue
11/29/09 - Online gambling software developer, Parlay Entertainment which is focused mainly on the online bingo market, has reported disappointing third quarter 2009 losses, with revenues declining to $800 000 compared to Q3 2008 when these were $2.5 million, generating a $600 000 loss (Q3 2008: net income of $600 000).
The quarter, which ended September 30 2009, was characterised by chief excutive Scott White as one in which the company continued to make a significant investment in the establishment, development and organisation of its managed solutions offering in Alderney and Canada through Parlay Game Services.
"Parlay Game Services is now operational with the first brand launched in the quarter with a number of additional launches scheduled for Q4 2009 and Q1 2010. As we noted in our previous disclosures, it is Parlay's intention to aggressively expand our managed solutions offering to accommodate the addition of new customers and brands across multiple languages and currencies," said White.
White revealed that expenses in Q3 2009 were $1.5 million, down from $1.7 million in Q3 2008, representing reduced compensation expenses and lower foreign exchange losses together with the absence of certain non-recurring expenses from Q3 2008 offset by restructuring expenses in Q3 2009.
Looking at the nine months YTD performance, consolidated revenues were markedly down at $2.6 million for the first three quarters of 2009 compared to $7.3 million in the first three quarters of 2008.
YTD 2009 expenses were $4.3 million, down from $6.3 million in the first three quarters of 2008.
Net loss for the first three quarters of 2009 was $1.3 million, compared to a net income of $600 000, in the first three quarters of 2008.
Parlay remains debt free, with a cash balance at September 30, 2009 of $1.0 million.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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