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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).

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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.



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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