Parlay Entertainment, Canadian gambling software developer based in Ontario, is known to have had its third quarter results down.
The total revenues have dropped by 13% percent from the first three quarters of last year to just over $5.9 million with royalties also falling by 6% to a little over $5.4 million. The net income has decreased to $296,242 from $1.2 million, while the company’s earnings before interest fell to $583,810 from $2.1 million in 2006.
Despite huge loss, the company claims to be debt free. Besides, the company’s product has been recently certified by the Isle of Man and UK Gambling Commission. It means that company’s royalty revenue will expand over the next quarter and beyond.