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Swedish Company Continues to Grow

Entraction has released the company’s second quarter results to much fanfare considering many analysts and skeptics in the international online casino gambling industry were wary of assertions that the Entraction poker network could turn a profit just one year after showing staggering losses. The company’s Q2 results were actually very positive thanks to a very healthy half-year for the entire online casino gambling industry. The majority of European facing gambling company’s turned huge profits last quarter and Entraction was no exception, announcing SEK 8.4 million in net profit.

Other online casinos and analysts were quick to point to Entraction’s losses of more than SEK 11 million. Entraction formerly operated as the 24hPoker network and ran into some troubles last year which resulted in significant losses. Founded in 2001 though, the company boasted an impressive management team and was able to rebrand the network and continue operating all of the company’s various products.

Part of Entraction’s current success at overcoming the losses of the previous year is thanks to the company’s diversified product offerings. The company not only offers gaming platforms for online casino gambling, poker gambling, sportsbetting, and more, but Entraction also specializes in some of the ancillary skills related to running a successful online gambling operation – payment systems, Web site design, among others.

The Q2 report included additional specifics related to the amount of net revenues generated – coming in at 48.4 percent above 2007’s Q2 and equaling SEK 77.6. A star player for this past quarter was Entraction’s online casino offerings – this division growing steadily and performing well – showing SEK 14.6 million growth in net revenues.