Bingo News
Parlay upbeat despite poor results
Parlay Entertainment CEO Scott White insists the company’s revenue will increase despite poor financial results for 2007.
The online bingo software experts’ fiscal results for 2007 showed a drop of 11 per cent in total revenue.
White said: “"In 2007, Parlay was faced with a number of challenges, which most importantly required that the Company adjust to a changing US regulatory environment.
“While these changes had a negative impact on revenue and earnings, Parlay made significant investments in technology, sales and marketing.
“These investments have allowed for the completion of several new UK and European-facing licensing arrangements, and as these arrangements transition into active businesses throughout 2008, we anticipate that they will make a meaningful contribution to royalty revenue."
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