Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Despite U.S. Restrictions, Parlay is Profitable

Few of the foreign companies effected by the U.S.’s new restrictions on online casino gambling can claim as promising first quarter results as Parlay Entertainment. Most companies affiliated with online casinos in the United States were hit hard by the sudden and complete withdrawal from U.S. players and their monies. But for Parlay Entertainment, it seems they have come out successful after one quarter of operations solely outside of the U.S.

Parlay Entertainment is involved in software development for online casinos, specifically Bingo games, and is also a turnkey provider. The company is based out of Oakville, Canada and announced recently that royalty revenue for the last two months of Q1 showed a steady increase that definitely added to the company’s ability to boast significant profits for 2007.

Statements from the company also included a positive outlook for the rest of the year. Parlay has spent the months since the U.S.’s anti-online casino legislation expanding into the UK market, and is positive that these expansions will ensure continued profits for Parlay.

Parlay’s Chief Executive, Scott F. White commented on the first quarter results, and Parlay’s place in the online casinos industry: "Revenue for Q1 2007, and in particular royalty revenue, may prove to be our low water mark for 2007 as we have witnessed stabilization in revenue generated from customers who are non-United Kingdom and non-European facing.

"We are very pleased to announce that, given the challenges faced by [the online casinos] industry, Q1 2007 will represent Parlay's 9th consecutive quarter of profitable operations. We anticipated, as did the analysts who reviewed our prospects for 2007, that there would be an adverse impact to our revenue from recent U.S. [online casino gambling] regulatory developments. We are pleased to note that this impact was within our expectations and that royalty revenue increased in each of the last two months of Q1 2007.

"More importantly, we anticipate that our deal flow from new United Kingdom and European facing customers will be robust for the rest of the year, further enhancing royalty and other revenue. We are continuing to invest in sales and [online casino] marketing efforts world-wide with bingo being at the forefront for new technology initiatives with some of the largest players in the e-gaming, mainstream media and government sectors."