Lasseters Turns a Profit
Lasseters Corp. (LASS) reported its first annual profit last week. The company profited AU $320,485 this year as opposed to the AU $5.6 million loss last year.
The Australian company also experienced a 46 percent increase in turnover to AU $463.8 million for the year ended June 30. Lasseters Managing Director Peter Bridge said the company is achieving its first profit after merging with Gocorp -- a fact he attributes in part to its management.
"Lasseters has valuable experience with land-based casino operations and close liaison with regulatory authorities has provided a framework to take advantage of favorable opportunities as they arise," Bridge said.
Lasseters is Australia's only licensed online casino, and it has more than 385,000 registered customers, a large section of which are from the United States. Bridge told the AAP that he would like the company to expand its international reach and diversify its products and services.
Sales, Turnover Up at UK Tote
Sales at the United Kingdom's Tote are up almost 50 percent to £916 million.
The bookmaker, which is expected to go private next year, saw telephone betting turnover increase 51 percent to £198 million and betting in its shops increase 50 percent. The Tote said the absence of tax on betting as well as the addition of fixed-odds betting terminals in the shops are responsible for the rising sales.
Earthport Endeavors to Raise £2.8 Million
Earthport plc, which offers online payment systems, said last week that it would issue 80 warrants to Gelande Corp. in an effort to raise £2.8 million in a three-year period. Gelande owns sections of two of Earthport's subsidiaries, including ensurePay and mediaPay.
The U.K. company also announced recently that Rick Flood, its COO, is resigning after helping the group through 18 months of restructuring.
Earthport counts online gaming giants Ladbrokes, Betfair and Sportingbet among its clients.
Chimera Resurfaces on OTC Pink Sheets
Chimera Technology Corp. (OTC Pink Sheets: CMRD) announced last week that it has completed its corporate capital re-organization and started trading on the Nasdaq Pink Sheets Exchange under the symbol CMRD. The Las Vegas company, which provides Internet gambling software, has also applied to be traded on the OTC Bulletin Board Exchange.
The company states that has garnered several new funding sources, both private and institutional. Ken Chua, president and CEO of Chimera, said he is extremely pleased at the company's latest developments.
"Since we are here for the long haul to build this exciting business platform, we certainly hope that one day we will be able to trade on the same exchange where Microsoft and CryptoLogic (CRYP) as well as many others are trading," he said.