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Hope for Company Beyond Q3 Report |
Online casino software development can be an extremely lucrative sector of the internet gambling industry, and at the same time, smaller software providers are faced with stiff competition from the trusted names of some of the top software licensees. Parlay Entertainment is certainly not one of the smallest online casinos games development companies in the industry, but on that same token it has encountered some recent setbacks and a drop in third quarter revenues.
Parlay recently released its third quarter report which though not entirely positive does indicate that the company can recover from the 24 percent drop in revenue from Q3 of 2006. Parlay used the Q3 report release as a prime opportunity to point out that Parlay has recently gained some positive new online casinos gaming licensees in addition to new certification.
Parlay is a Canadian online casino software developer that touted its certification from both the Isle of Mann, and the UK Gambling Commission. Approval from the UK Commission is certainly nothing to sneeze at considering the strict UK online casinos regulations that came into effect in September 2007. Additionally, the company reported that though revenue is down, the company is not running at a deficit, nor is it in debt. The Q3 report indicated that Parlay had a $1.8 million cash balance.
And though certification and liquid cash is a positive step for Parlay, most in the industry are looking toward the company’s fourth quarter report for a better indication of the online casinos software developer’s longevity in the highly competitive industry.
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