|World Gaming, the operator of online gaming products, including casino, sports book, and pari-mutuel betting has reported financial results for the three months ended March 31, 2004.|
Net profit for the quarter and year to date of US$1.9 million compared to US $441,000 for the same period last year. System-wide wagering volume was up 26 percent from the same period last year, while royalty revenue up 13% from the same period last year.
Total revenues for the quarter ended March 31, 2004 were $5.3 million, compared to US$4.5 million for the same period last year. Increased licensee wagering volumes drove the 18 percent increase in revenues in the quarter.
The Group released its expanded horseracing product to licensees last month. The product provides customers of our licensees to access over ninety horseracing tracks. Further development of this product is continuing over the coming months that will provide licensees with greater options to maximize their net-win say World Gaming officials.
In addition, the Group is releasing a multi-player poker product in the second quarter of 2004.