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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.
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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