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WMS Strong Interest in Internet Gambling
Wednesday August 8,2012 : WMS NOTES RISE IN INTERACTIVE OPERATIONS
Chicago land casino supplier has a strong interest in internet gambling
The latest results from Chicago-based WMS Industries flagged the group's growing interest in e-gaming following the formation of its dedicated subsidiary Williams Interactive LLC.
The WMS group reported overall revenue of $195.9 million and net income of $22.1 million, or $0.40 per diluted share, for the quarter ended June 30, 2012, compared to revenue of $203.2 million and net income of $10.3 million, or $0.18 per diluted share, in the June 2011 quarter.
The June 2012 quarter results reflect the third consecutive quarter of sequential revenue growth as revenues rose $19.9 million, or 11 percent, from the March 2012 quarter.
CEO and chairman, Brian R Gamache noted that the group had enhanced its focus on e-gaming and accelerated spending in a measured manner to build a comprehensive suite of interactive products and services designed to provide its customers with solutions that enable them to benefit from e-gaming opportunities.
"While this spending impacts near-term financial results, we believe it favourably positions WMS to participate in the tremendous high-margin growth potential of these opportunities that will create longer-term shareholder value,” Gamache said.
The formation of Williams Interactive LLC early this year underpins the WMS commitment to e-gaming.
Online elements of the group included in Williams Interactive operations include its online casino Jackpot Party; the cloud-based Player's Life Web Services linking casino-based entertainment with non-wagering entertainment features at home or on mobile devices.
The company's social gaming pursuits, including the Lucky Cruise social casino on Facebook; Phantom EFX, a recently acquired developer and publisher of play-for-fun gaming entertainment for the social, casual and mobile channels; and the strategic alliance with Dragonfish, the independent B2B division of 888 Holdings, to pursue U.S. online poker initiatives.
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