Losses for Online Casino Gambling Group
Nearly all of the internet gambling companies all over the world have now
reported their half-year earnings and revenues report – and for the Australia
facing Lasseters, it’s been a rough year on many fronts. The company has
reported a steep decline in revenues for the first half of the year and
apparently predicts that the full-year results will show a more than A$6 million
loss. These costs are related to the company’s online casinos and as well as the
startup costs of operating the new Lasseters Sportbook. Lasseters is a growing
name in the international online gambling industry and the company is stretching
its funding in order to expand into new markets and offer new products and
services.
Lasseters is also one of the many online casinos and internet gambling groups
that was negatively affected by the US ban of offshore gambling companies
accessing the US market. The withdrawal from the US has put a strain on the
company’s finances and Lasseters has also been forced to pay for restructuring
costs as the company attempts to really begin to penetrate the potential within
the European gambling market as well as lay groundwork in the Asian online
casino gambling industry.
Lasseters reported that as far as the company’s online casino gambling
operations went the revenue was lower than anticipated because of some issues
implementing new games and software onto the site. Couple those losses with the
losses associated with starting up the Sportsbook operation and the continued
expansion into the European market, and Lasseters has accounted for the loss. On
the up side though the problems with the company’s online casino have been
resolved and the Sportsbook operation is primed to bring in revenue in the new
year and Lasseters is optimistic about turning a profit in 2009. |