Poker royalties down for Scandinavian gaming company
Friday 17th August 2007
Publicly quoted gaming software provider Boss Media has announced its financial results for the last six months with sales increasing by five per cent.
The Swedish company said that sales grew to $23.22 million compared with the same period last year while operating profit amounted to $3.94 million, up from $3.84 million in the first six months of 2006.
However, the company’s royalty revenues decreased by seven percent to $16.61 million aided by a drop in poker royalty revenue to $7.96 million from $8.6 million one year ago.
Boss Media’s poker clients include CelebPoker, Virgin Poker, Svenska Spel, and Sportingbet and it has also engaged in several new partnerships, including one with St Minver Ltd of Gibraltar, the International Poker Network.
It announced at the end of April that leading Internet player Yahoo! UK had joined this partner-based poker network and now offers visitors a web-based product that does not require downloading.
It also signed a contract with Alands Penningautomatforening (PAF) for delivery of a poker system for the Internet. PAF operates cash games on the autonomous Finnish Aland islands, on ships and over the Internet. The poker product is linked to Boss Media’s partner-based poker network. And began operation in May.
