Good Results From Online Gaming Excapsa
Published: Wednesday, August 16, 2006 Online-Casinos.com
GOOD RESULTS FROM ONLINE GAMING EXCAPSA
Canadian group still hunting for a software development company
Reuters reports that online gaming company Excapsa Software Inc. remains intent on buying a casino software developer after swinging into the black with its interim results.
Chief Executive Jim Ryan told the news service in an interview this week: "We are actively pursuing casino software - we would like to buy a casino software developer and extend our offering."
It was turnaround time for Excapsa, which is listed on London's AIM exchange. The company posted pre-tax net income of $16.8 million for the six months to the end of June after a loss of $431 000 a year ago.
The change in fortunes came after Excapsa renegotiated a licensing deal for poker software with eWorld, operator of UltimateBet.com. Based on proforma figures, which calculate 2005's figures had the deal been in place for the full year, the company posted a 27 percent rise in net income.
Ryan said he did not expect the U.S. court action against former BetonSports Chief Executive David Carruthers to have a long-term impact on the sector. "We are quite bullish and optimistic the [U.S. anti-online gambling] legislation will not pass in this session of Congress," he said. Ryan believes the U.S. will seek to increase legislation to control online gaming rather than seek to ban it altogether.
The Canadian CEO said Excapsa intends to launch an online blackjack tournament in the third quarter following the recent launch of poker games that can be played on mobile phones.
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