The developer of internet poker software announced a 43% increase to $26.8m in net revenue over proforma net revenue during the same period in 2005.
Active real money players increased 42% to 151,424, with cost per player acquisition up 39% to $143.
In February 2006, Excapsa successfully completed an IPO on London\’s AIM with placing proceeds of £56.2 million. Later in March, the company finished a major platform upgrade from MySQL to Oracle, which will enable a further growth of the network with the introduction of a wireless poker application and the launch of single and multi-player blackjack.
“We are encouraged with the growth to date in 2006 and revenues for the first quarter were in line with expectations. With much of the foundation building for the corporate infrastructure complete we are now focusing on the next phase of our strategic plan which centers on product enhancements, new product development and geographic expansion,” commented Jim Ryan, Chief Executive of Excapsa Software.
In separate news, Business Britain presented the Award for the Leading Online Gaming Company of 2005/2006 to CelebPoker.com. The British magazine assembled a team of investigative journalists that for the last six months researched online casinos and poker rooms operating on the UK market. The criteria used to assess online gambling companies included ease of use of site and game play, efficiency of payment transactions, help line and guidance for gambling issues, security and supervision of site, customer support and response time, company ethics and many more.
Earlier last week, Vincent Melinn, Paddy Power\’s Irish Open poker champion, struck gold twice: once with his €350,000 first prize and again with a €250 each way bet on himself at 150-1 with Paddy Power, which earned him an additional €47,000.
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