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Encouraging Growth in New Markets

Neteller has made the news lately on several accounts – new partnership deals and strategic alliances have excited much of the international online casino gambling industry. The latest news though is equally exciting though for investors and shareholders primarily. Neteller’s H1 report indicated that the company had had a very solid half year and that all revenues, product developments and new partners are right in line with the company’s previous expectations. Neteller has really established a presence in the Asian and European markets after the problems in the U.S. online casino gambling industry and the foundation and groundwork laid over the past year is starting to payoff.

Neteller offers payment processing solutions for the online casino gambling industry as well as an increased focus on offering a range of e-wallet to the e-commerce industry as a whole. The H1 report indicates that the company continues to expend monies and efforts on the development of products and services that will meet the unique needs of the Asian and European gamblers visiting the online casinos.

Revenues per Neteller e-wallet are on the rise – showing an 18 percent increase over the Q1 2007. Additionally, because the fiasco with the U.S. online casino gambling industry is over the company was able to show a huge rise in profits before tax - $1.2 million for H1 2008 versus the more than $24 million lost in the H1 2007). After the U.S. government banned offshore internet casinos and payment processors from accessing U.S. gamblers, Neteller regrouped and has begun to offer more diverse services in international markets to recoup losses and continue the company’s growth.