Australia’s only licensed online casino is thriving, says report
Friday 27th August 2004
Lasseters.com.au, which claims to be Australia’s only fully licensed and online casino, regulated by the Northern Territory government, has reported robust financial health this week. The company announced net profit of AU$402,604 this year, compared to a profit of AU$320,485 for the year ending June 30, 2003, a 25.6 percent profit increase it puts down to 'significant cost savings'.
Managing director of Lasseters, Peter Bridge, said the result was 'satisfying' considering the amount of obstacles the company had to face over the year. 'While externally we were subject to a range of issues outside our control, we have internally continued to develop the most efficient and low cost mode of operation,' he said.
As majority of Lasseter’s custom comes from the US (offering online gambling services to Autralians is illegal), these obstacles included the tightening of credit card restrictions for gambling use in the US; the introduction of online gambling advertising restrictions in the US; and the appreciation of the Australian dollar against the US dollar.