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Full-Year Revenue for Payment Processor

Although the Neteller 2007 full year results expectedly come in showing losses for the year, there is a bright side to the report – the online casinos payment processing company is mending and growing. Neteller had a particularly lengthy encounter with the Untied States government after the company chose to operate in the U.S. market after the U.S. passed a ban on the processing of online casinos gambling transactions. That was a costly mistake for Neteller, but the company is in the process of rebounding from that incident and the withdrawal from the U.S. market and the year-end report shows that Neteller’s restructuring strategy has been effective and the company anticipates continued growth for 2008.

As stated, there was no doubting that the online casinos gambling company was going to report losses for 2007 – but the hope lies in the fact that the company’s European and Asian Pacific revenue rose 28 percent and 44 percent respectively. This rise shows that Neteller has hope for continued growth and may even turn a profit soon as the company continues to grow brand preference in new countries and regions. The company reported a pre-tax loss of US $185.7 million. This includes the company’s fine paid to the U.S. government for violating the online casinos gambling ban as well as restructuring costs as the company switched focus from the U.S. market to both Europe and the Asian Pacific markets.

The CEO and President at Neteller, Ron Martin, remarked, “2007 represented a milestone for the Group as we successfully resolved our issues with the US authorities, and energetically refocused the business to put into action our updated vision and mission.” The online casinos payment processing company is really focusing on gaining a larger non-U.S. player base as this will be the key to continued success for the company. Martin elaborated, “The renewal of the Group’s businesses to leverage changed market opportunities has created energy and enthusiasm throughout the organisation. I am confident this will be reflected in our performance in 2008.” Neteller is clearly on the mend and the company has showed remarkable resiliency at bouncing back from the troubles with the U.S. government.