Online Casino Payment Service Cashes In
It appears that online casino sites are not the only ones raising capital through the stock market. Neteller, a widely used payment method at online casinos all over the net has had a strong third quarter showing. The company’s profits have shown a 105% increase in revenues for the same time last year, rising from $12.8 million to $26.3 million. During the first 6 months of 2005 the company’s profits amounted to $26.3 million, in comparison to $12.8 in 2004, representing a 104% increase.
Those who had the sense to invest in Neteller 18 months ago, before it became arguably the leading online casino payment service, were able to make a 300% profit seeing that the price of the share tripled in value. Capitalizing on their stock being at an all time high, a couple of key figures Neteller have elected to sell some of the stocks they own. Stephen Lawrence, the acting CEO and John Lefebvre have reduced their holdings in the company from 49% to 20% by cashing in some of their stocks to the tune of 218 million pounds.
Another online casino payment service called FireOne has also had a successful third quarter. The company reported a whopping 90% increase in profits, amounting to $20 million. The online casino industry defiantly has had an effect on the growth of these companies who cater in large part to online casino players.