|Parlay Entertainment the world's foremost supplier of Internet bingo software, has announced its financial results for the three-month period ending March 31, 2007.|
The group is remaining optimistic despite a dip in most results when compared to the first quarter (Q1) in 2006, largely attributed to the introduction of the US’s Unlawful Internet Gambling Enforcement Act (UIGEA).
The company’s total revenue reached $1,971,854, down 2 percent from Q1 2006, while royalty revenue came in at $1,810,570, down 3 percent from the same period in 2006.
‘We anticipated, as did the analysts who reviewed our prospects for 2007, that there would be an adverse impact to our revenue from recent US regulatory developments. We are pleased to note that this impact was within our expectations and that royalty revenue increased in each of the last two months of Q1 2007,’ said Mr. Scott F. White, President and CEO of Parlay.