The online bingo provider announced a revenue of $2.6m, up 20 per cent from the prior record for Q2 2006 and up 68 per cent on same period last year, and a profit before exceptional items of $865 023, up from $326 418 in Q3 2005. For the nine-month period ended September 30, Parlay reported a revenue of $6.8m, which surpassed the full revenue for all of fiscal 2005.
As of September 30, Parlay\’s bingo network St. Minver had a total of 18 partners in place, while The Gaming Network added Paddy Power Bingo to the list of its network partners, bringing the total to 13. Other achievements during the third quarter include the launch of Unibet Bingo and the release of Parlay 4.2, the latest version of Parlay\’s award-winning online bingo product. Bingos.co.uk was recently named Bingo Operator of the Year at the annual eGaming Review Awards.
“In view of the recent signing of the Unlawful Internet Gaming Enforcement Act in the United States, we are pleased that our exposure to licensees who do not restrict the access of U.S. residents to their sites has been significantly reduced in the past two years,” commented CEO Scott White.
“For the three-month period ended September 30, 2006, our estimated revenue exposure to the U.S. business of licensees who do not restrict the access of U.S. residents to their sites was approximately 40 percent of our total revenue for that period compared to approximately 100 percent for fiscal 2004.”
“As our existing licensees in the U.K. and Europe expand their businesses and as we add new licensees in those and other international marketplaces, it is our expectation that we will continue to decrease our revenue exposure to licensees who do not restrict the access of U.S. residents to their sites.”
“We acknowledge that our future growth and profitability may be tempered by the passing of the UIGEA in the U.S., but it is our expectation that the reduction in our overall exposure to the U.S. marketplace together with amending the way in which we conduct business with our licensees who do not restrict the access of U.S. residents to their sites will limit the impact of the UIGEA on Parlay,” concluded White.
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