The online gaming software developer announced its results for the second quarter and first half 2006. During the second quarter, sales increased by 47 percent over the same period the previous year up to SEK 79.0 million, with a net profit of SEK 26.6 million. First half sales increased by 41 percent to SEK 154.5 million and net profit was 34.1 million.
During the quarter, Boss Media signed an agreement to deliver a poker system to Bet-at-Home.com, bringing the total of new operators on its partner-based poker network at 12 from the start of the year.
Boss Media also received SEK 22.5 million in additional purchase price for the shares in EssNet Interactive, which was sold to Scientific Games in January 2006, and paid an amount of SEK 5 million to Essnet Interactive. After completion of both agreements, Boss Media and EssNet no longer have any contractual commitments or demands between them.
After the close of the reporting period, BetandWin migrated its players from Boss Media’s poker network to Ongame’s poker network. Boss Media also divested its 20% shareholding in Jadestone Group for SEK 17.1 million, resulting in a capital gain of SEK 7.1 million. The background to the divestment is the change in strategy implemented by Boss Media that will focus primarily on the internet, interactive video terminal and in the future interactive digital TV as distribution channels for digital gaming entertainment.
Boss Media expects to increase its net sales for 2006 by approximately 20 to 25 per cent.
In separate news, Boss Media in cooperation with St Minver has signed agreements to deliver poker systems to Trillonario.com and VS Poker. Trillonario.com will market its poker offering in Brazil, Argentina and Chile. VS Poker is currently an established poker partner to a competing poker network and has now chosen to switch to Boss Media\’s poker product.
Elsewhere, white-label gaming provider Cashcade has selected Chartwell Technology to power its own online casino brand, Getmintedmax.com. Cashcade operates online gaming sites for several well-known UK brands, including Independent News and Media, EMAP, Trinity Mirror, Arena Leisure and The London Ritz Club.
“We have worked with Chartwell before when we managed Victor Chandler\’s casino business and we know how good they are in the software business”, commented Patrick Southon, Managing Director of Cashcade. “The key for us as a managed service business is the ability to offer a flexible, tailored service to all our clients and are sure in this respect we will not be disappointed.”
“The Cashcade group have proven themselves to be a first-rate gaming service company and we are very pleased to be associated with them”, added Darold H. Parken, President and CEO of Chartwell. “We enjoyed working with the Cashcade people in the past and look forward to working with them again in the growth of their own unique gaming brands.”
Interactive gaming technology developer Zone4Play announced that it has founded Gaming Ventures PLC – a wholly owned subsidiary incorporated in the Isle of Man, in order to further enhance, market and operate its newly-developed multiplayer Black Jack tournaments gaming technology.
Gaming Ventures will have two main business models: one, through its wholly owned subsidiary, Get21 Ltd, to market the multiplayer Black Jack tournaments gaming directly to consumers and the second, through its wholly owned subsidiary, RNG Gaming Ltd, to further develop and license the Black Jack gaming technology to third parties based on a license fee and revenue share basis.
“We believe that the Black Jack tournaments gaming technology is a valuable asset and that the founding of Gaming Ventures is the preferred way to pursue this business opportunity for the benefit of our shareholders”, said Shimon Citron, CEO of Zone4Play.
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