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Results of a Quiet Quarter

A lot of the prominent online casinos and internet gambling companies have reported mixed results over the past several months. Some sectors of the internet gambling industry are largely unaffected by the slowing global economy, but some sites have reported that the economy, coupled with increased competition means that the revenues are suffering. Leisure and Gaming on the other hand reported that while the company has released stellar third quarter results, break-even revenues were nothing to complain about overly much considering the fate of some of the other online casino gambling companies struggling to stay in business.

The third quarter of the year is traditionally one of the more quiet periods for the online casino gambling industry but L&G managed to come away with more gross profits and break-even results in terms of operating expenses. All of these results are compared with the third quarter of 2007. The break-even results are even a bit surprising when you look at the specifics from the online casino gambling group’s third quarter results report.

Several areas of the company were down from the Q3 of 2007. This includes the amounts that online casino gamblers wagered through L&G and net winnings for players. These areas though were offset by decreases in operating expenses and overhead and some other key areas. Basically, the company’s gross profits are up 80 percent from this period last year and come in at Euro 900,000. This accounts for the reason that L&G broke even this quarter. The company expects to turn in profits in the fourth quarter which is a traditionally busy time for the online gambling industry.