Online Casino Transfer: News - Parlay's First Quarter

06/15/2010		Online Casino Style: News Parlay's First Quarter
Home History Games News Dictionary		It was a balance of both good and bad news for Parlay Entertainment, Inc this week as the final numbers for their first quarter came in, demonstrating their revenues down for their period, but a strong group of licensees boding well for the rest of their year. Parlay already holds the respect of the online gambling industry for the strong position they hold in the Canadian market, offering a wide range of both television and internet bingo services. Their first quarter ratings, running from the first of January to the end of March, demonstrated their dedication to the future’s growth as well as their stalwart perseverance through the worst the North American economic crisis had to offer. According to an accompanying statement by their chief executive officer, Scott White, the company has been concentrating not on their bottom line, but on good investment choices for both human, financial and technological resources they work with. Based and licersed out of Alderney, Parlay Entertainment is in a unique position to expand their gambling platforms throughout North America, keeping in mind the looming changes on the United States’ forefront. Consolidated revenues were down to $800,000, a 20 percent drop compared with their final first quarter numbers in 2009. Expenses had gone up correspondingly, jumping a tenth of a million to $1.4 million, an unfortunate turn attributed primarily to increased losses in foreign exchange that offset any reduction in operating expenses that they had made. In fact the net losses for the period came to a half a million alone, increased from the previous year’s $300,000. Nonetheless, their CEO seemed unperturbed. "Throughout Q1 2010, we continued the development and integration of partners into those Parlay Game Services platforms using our Parlay5 technology,” White said. “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.”

06/15/2010

Online Casino Style: News
Parlay's First Quarter

It was a balance of both good and bad news for Parlay Entertainment, Inc this week as the final numbers for their first quarter came in, demonstrating their revenues down for their period, but a strong group of licensees boding well for the rest of their year. Parlay already holds the respect of the online gambling industry for the strong position they hold in the Canadian market, offering a wide range of both television and internet bingo services. Their first quarter ratings, running from the first of January to the end of March, demonstrated their dedication to the future’s growth as well as their stalwart perseverance through the worst the North American economic crisis had to offer.

According to an accompanying statement by their chief executive officer, Scott White, the company has been concentrating not on their bottom line, but on good investment choices for both human, financial and technological resources they work with. Based and licersed out of Alderney, Parlay Entertainment is in a unique position to expand their gambling platforms throughout North America, keeping in mind the looming changes on the United States’ forefront.

Consolidated revenues were down to $800,000, a 20 percent drop compared with their final first quarter numbers in 2009. Expenses had gone up correspondingly, jumping a tenth of a million to $1.4 million, an unfortunate turn attributed primarily to increased losses in foreign exchange that offset any reduction in operating expenses that they had made. In fact the net losses for the period came to a half a million alone, increased from the previous year’s $300,000.

Nonetheless, their CEO seemed unperturbed. "Throughout Q1 2010, we continued the development and integration of partners into those Parlay Game Services platforms using our Parlay5 technology,” White said. “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.”