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Lasseters Sees Red

Increased costs of developing sportsbook blamed along with UIGEA consequences.

Thursday 31st January 2008

Australia-based online gambling group Lasseters Corporation has announced that it is likely to see pre-audited losses for the final six months of 2007 in the vicinity of $1.68 million before exceptions.

Lasseters has been hurt by the US ban on financial transactions with online gambling companies, the Unlawful Internet Gambling Enforcement Act (UIGEA) passed in October of 2006, along with the increased costs of building and marketing a new online sportsbook operation.

Lasseters provides casino gambling services to the international market and has also been hurt by the high value of the Australian dollar when compared with its American counterpart.


Source: OnlineCasinoNews

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