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

Online Casino Gambling --- Casino News

Counteracting the Benefits

Parlay Entertainment has made the news a lot this week – not only has the company announced an undisclosed resolution to the ongoing patent dispute between Parlay and 1st Technology, but the company also released a lukewarm half-yearly report. The online casino gambling industry has flourished in many markets over the past six months and numerous internet gambling sites announced fantastic H1 reports – surges in revenues and increasing interest in the various sectors of the industry are to thank for the increase in interest. But Parlay was hit with an increase in operating expenses for the first half of the year coupled with a sharp decline in the royalty revenues.

That isn’t to say that the online casino and bingo software development company didn’t see an increase in licensing revenues – in fact, Parlay’s report indicates that revenues for H1 came in at a 16 percent increase over H1 of 2007. But because royalty revenues are on the decline the company was unable to even break even and instead announce a losses totaling $8,546. The loss could be easily overcome in the second half of the year if Parlay continues to build its stable of online casinos and bingo gambling site licensing the software.

Also impacting the second quarter of the year is the fact that Parlay just reached a closed settlement with 1st Technologies. There is no telling how much that settlement will cost Parlay but it will undoubtedly affect the company’s bottom line when it comes to reporting profits for the second half of 2008 – and for the entire year for that matter.