Lasseters Corporation, an Australian online sportsbook and casino operator, posted a 49 percent decline in operating revenue from $6.8 million Australian dollars in 2007 to $3.5 million Australian dollars, according to financial results for the year ended June 30, 2008.
Its earnings before interest, tax, deprecation, amortization and impairment was reported as a loss of $6.4 million Australian dollars. After adjustments, the company recorded a total loss of $15.5 million Australian dollars for the 2008 financial year.
The company said that the poor results continue to reflect the impact from the passing of the Unlawful Internet Gambling Enforcement Act in 2006, even though Lasseters has made efforts to replace the United States market. It also attributed the loss to its inability to contend with its competitors’ range of products.