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Online Casino Revenue Decrease

Parlay Entertainment has been in the news lately for the companies failed acquisition offerings. The online casinos bingo gambling company entertained three acquisition inquiries at the beginning of this year, but just a few weeks ago the company announced that it had rejected the three companies interested in acquiring Parlay. Most in the online casinos and internet bingo gambling industries were surprised that Parlay has chosen to reject all inquiries considering the companies sketchy financial situation.

The U.S. online casinos gambling ban hit the Canadian based bingo company hard – Parlay lost a large portion of the company’s main player base and was forced to look into new markets. The problem is that internet gambling companies all over the world were forced into new markets because of the U.S. ban – so competition for new registered players and new licensees was fierce.

The CEO at Parlay entertainment, Scott White, commented, "As multinational and brand-name companies continue to express interest in Internet bingo. We look forward to announcing new licensing arrangements with our growing complement of U.K. and European focused customers and strategic partners."

Parlay did manage to maintain the company’s bingo software offerings for existing licensees and end the year with moderate losses. Parlay announced both the fourth quarter results for the online casinos bingo company and the end-of year results. Basically, both reports indicated losses in multiple sectors of the company – from total revenue to royalty revenue, the company was forced to report net losses. But all of the losses at this point have not caused Parlay to actually lose money – rather the losses were subtracted from the company’s cash balance.