Friday August 28,2015: LOSSES AT LASSETERS ONLINE SERVICE DIVISION
FY ended June 30 2015 shows a drop from profit to an A$80,750 loss.
The online services division of Australian gambling group Lasseters, an online gambling leader in the early days of the industry, has released FY numbers to end June 2015, reporting that a profit of A$315,330 in 2014 has turned into a loss of A$80,750 this year.
Revenues – the company develops online versions of casino games – dropped 100 percent in the reporting period to finish at A$249,000.
Management pointed out that last year's profit was mainly income from the disposal of subsidiaries.
Private equity group Kings Knight Capital, which has Asian connections, approached the company earlier this year with an offer to buy for an undisclosed amount, saying that it could find new business opportunities in Cambodia, and it is understood that discussions continue.