UPS AND DOWNS Parlay Entertainment Inc., a gaming software developer, reported total revenue at $4.6 million during the first half of 2008 -- up 16 percent from the same period last year.
Despite the growth, the Ontario-based company reported a net loss of $8,546. This is down from last year’s first-half net income of $122,750.
"In Q2 2008, we consummated a divestiture transaction, which had a positive impact on both revenue and cash flow for the quarter," said Scott F. White, Parlay's chief executive, in a prepared statement. "As a result of that transaction, we have also made a number of adjustments to our recurring cost base in the quarter, which brings it more in line with current recurring revenue."
"As operators become more competitive, require true differentiation and demand increased player liquidity across multiple languages and currencies, Parlay's latest technology offering will become the industry standard,” he continued. “We look forward to being able to add to our existing licensee-base throughout 2008 and beyond."
POKER ’N‘ POLITICS Although the Poker Players Alliance didn’t succeed in ridding the anti-online-gambling language from the Republican platform, it did in bringing big names to its poker tournament during the 2008 Democratic National Convention in Denver.
On Tuesday, Aug. 26, actor-director Ben Affleck beat out a hundred others in the tourney, including two professional poker players, reports The Wall Street Journal.
Along with Mr. Affleck, Seth Myers, Sarah Silverman, Richard Dreyfuss and Montel Williams were among the attendees, which the new Washington lobby hoped would draw attention to the online poker debate. The event raised more than $60,000 for the Paralyzed Veterans of America.
The alliance will also hold a tournament on Sept. 3 during the upcoming Republican National Convention in Saint Paul.
PARTY PROMOTION PartyGaming, an online gambling operator, has announced the appointment of Rod W. Perry as non-executive chairman.
Previously, he served as non-executive director at PartyGaming for three years and has been the senior independent director since February 2007.
Lord Moonie will take Mr. Perry’s position as senior independent director.
“Since becoming a public company, we have had to face and overcome a series of major challenges,” Mr. Perry said in a prepared statement. “Looking forward, I am excited about the opportunities that a fresh approach under Jim Ryan as CEO will bring and am confident that under his stewardship, the management team can unlock further value for shareholders.”
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