|World Gaming plc the leading developer, licensor and provider of online casino software, posted its first profitable quarter for the three-month period ending December 31. Total revenues for the Q4 were $6.6 million compared to $6.4 million for the same period the year before.|
Net income was $536 thousand or $0.02 per share. The company lost $199 thousand or $0.01 per share during Q4 the previous year. This years figures represent a $735 thousand increase for the company.
“The fourth quarter results demonstrate our ability to deliver on our commitments to shareholders despite industry challenges like payment processing,” said Mike Aymong, CEO of World Gaming. “Bringing sustained profitability to the company has been a major focus since the new management team assumed control. While we are not finished yet, we are optimistic that we have reached a turning point and are now well positioned to continue delivering profitable growth.”
For the eight-month period beginning May and ending December 2001 revenues dropped 14 per cent compared to the same period the previous year. They were $12.1 million, compared to $14.1 million in 2000.
World Gaming is set to launch its games, which also include sportsbook and pari-mutuel, in a variety of new languages like Chinese and Japanese, and new currencies, to take advantage of the industry’s rapid growth.