| Top > News > 2006 > September > 18 Sep 2006 |
Italians are Blamed for Blocking Online Casino |
| A major online casino provider in Canada has recently blamed independent Internet blockading moves by the Italian AAMS authorities to ban online casino for declines in revenue from some of its operators, according to a recent company report. Net income showed a decline from the results for the same period last year at US$1.1 million for nine months of 2006 compared to US$3.1 million for the prior year period. Revenue for the nine months to July rose only 5 percent to US$ 13.9 million compared to US$13.2 million for the same period a year earlier. The online casino company said the principal causes for the reduction in net income were a US$1 million provision for a doubtful account taken in the second quarter of 2006, higher online casino software development and support expenses to meet new customer deliveries under signed agreements and higher administrative expenses. For its third quarter figures, the online casino company saw revenue rise to US$ 4.7 million from US$ 4.5 million for the same period a year earlier. Net income was US$ 0.5 million compared to US$ 0.7 million over the same period in 2005. |
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