|The huge upswing in popularity of Internet Bingo is serving Dot Com Entertainment well, if the company’s 1st quarter results are anything to go by. |
Dot Com Entertainment subsidiary Parlay Entertainment’s trademark is “Where the world plays bingo”, and a statistic quoted by Parlay’s VP of Sales Andrew Branscombe adds weight to that boast: “over 50% of players at Parlay bingo sites play more than five times per week, and 50% play for more than two hours”. Loyal customers indeed. Sites running the Parlay bingo software include bingomania.com, iplaybingo.com and the recent additions of Sportingbet’s bingobilly.com and Saturnbingo.com.
Last week the company reported a profitable first quarter, reflecting the impact of a growing customer base, growth of existing customers, and changes in the organization of the business made last year.
“In the first quarter of 2003, we began to realize the benefits of the organizational changes that were implemented last year,” said David Outhwaite, DCEG’s Chief Executive Officer. “Today, DCEG is a more market-driven organization with a broader revenue base than ever before, and is extremely well positioned to capitalize on growth in the worldwide Internet gaming market.”
Significant developments during the 1st quarter included:
An 11% increase in royalty revenue over the first quarter of 2002;
A 25% year-over-year increase in the number of customers’ with sites powered by Parlay software;
A reorganization of the company’s corporate structure;
The completion of a software upgrade program to improve playability at customer sites;
Further strengthening of DCEG’s senior management team; and,
Commencement of the process to obtain a listing on the TSX Venture Exchange.