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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.

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Gambling News :

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

Cherry CEO Fredrik Burvall Steps down - Anders Holmgren, currently a board member of Cherry AB and one of the founders of Betsson where he also held the role of chief executive officer of Betsson Malta

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