World Gaming Plc has released their third quarter financial results. It is good news for the UK based iGaming software and e-business services group. Overall their interests, the company has recorded a profit figure of US$1,146,000 compared to a loss last year of US$181,000. Across all their systems they saw a 97 percent increase in terms of volume of bets made compared to those in 2003, and for the quarter revenue increased by 43 percent compared to the same quarter last year.
Other highlights of the report include operating expenses for the quarter down by 9 percent and details of the completion of transaction with Sportingbet Plc. The board of World Gaming spent time in the third quarter negotiating with Sportingbet, in terms of their licensing agreement. An agreement has been formed, whereupon World Gaming have now committed to a joint venture with Sportingbet, with the board confirming publicly that they are pleased with the decision.
Also achieved in the third quarter was a major upgrade of hosting facilities in Antigua. The database platform has been upgraded to an Oracle 10g version, and other hardware infrastructure has been purchased, with the aim of making the whole operating system more robust with improved scalability.
