|The Chief Executive of online gaming company Excapsa Software Inc. is remaining confident that the company can continue to pursue its intentions to acquire a casino software developer after positive interim results. |
CEO Jim Ryan declared in an interview with the Reuters News Agency that Excapsa were “actively pursuing the acquisition of a casino software developer” to help extend its present offering. This follows the company’s floatation on the Alternative Investment Market in February of this year, and the announcement of pretax profits of $16.8 million (£9 million) for the six months to the end of June after a loss of $431,000 a year ago.
The turnaround came after Excapsa renegotiated a licensing deal for poker software with eWorld, operator of UltimateBet.com, and based on proforma figures, which calculate 2005's figures had the deal been in place for the full year, the company would have posted a 27 per cent rise in net income.
Ryan continued to mention Excapsa intention to launch an online blackjack tournament in the third quarter following the recent launch of mobile phone capable poker games.
Shares in Excapsa were up 1.6 percent to 62-1/2 pence in midday trading, valuing the company at around £124 million.