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PARLAY Q1/2010 REVENUES DOWN
6/1/10 - Parlay Entertainment Inc., a major Canadian provider of Internet and TV bingo software, has released its Q1/2010 results to end March this year.
Chief executive officer Scott White says that the company has invested significant financial and human capital resources in the development of its Alderney and North American gaming platforms.
"Throughout Q1 2010, we continued the development and integration of partners into those Parlay Game Services platforms using our Parlay5 technology. At the end of the quarter, we had approximately 45 partner sites launched or launching on our Alderney-based managed solution and three sites, including our first Facebook bingo application, launched or launching into North America, said White.
"Q1 2010 revenue includes only initial, modest revenue from new partners, which we expect will continue to improve over the long-term. Although we note that Q1 2010 revenue was a sequential improvement for Parlay over Q4 2009, it has not yet recovered to the levels of Q1 2009,” he added.
White said that as monthly liquidity levels increase with the launch and growth of existing and new partners, Parlay expects to see additional traction from new sales, as new brands and brands from other networks look to diversify.
“We are optimistic that 2010 will see continued improvements to revenue, earnings and cash flow, as Parlay succeeds in the growth of its multi-jurisdictional gaming platforms", he concluded.
Consolidated revenues were Cdn$ 800 000 in Q1 2010 compared to Cdn$1.0 million in Q1 2009.
Expenses in Q1 2010 were Cdn$1.4 million, up from Cdn$1.3 million in Q1 2009. Increased foreign exchange losses offset reduced operating expenses.
Net loss for the quarter was Cdn$ 500 000, larger than the corresponding loss last year of Cdn$200 000.
Parlay remains debt free and held a cash balance at March 31, 2010 of Cdn$ 800 000; the company expects to receive tax refunds of Cdn$ 300 000 soon, and a further tax refund of Cdn$600 000 in Q4 2010.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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