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Online Casino Payment Processor Shows Growth

Neteller reveals revenue and margin increases since last year

Wednesday 31st May 2006

The continued growth of the gaming industry is reflected in the parallel expansion of Neteller, whose latest figures show how lucrative the industry can be.

The e-cash processor has revealed that an estimated 2.6 million users rely on the service to make deposits of some $4.7 million each day to online casino sites.

The firm's total revenues were up by 69 per cent on the same period last year to $57.9 million. Gross margins were also up by 73.5 per cent.

An average of 3, 609 new gamers signed up every day during this year's first quarter, while the total number of customers at the end of the quarter totalled 2.6 million.

The site currently operates in English but Neteller announced Europe-wide expansion plans last week which will see the launch of local language sites and Euro payment options as well as a 24-hour helpdesk facility in a variety of languages.

Source: OnlineCasinoNews

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