Online Casino Firm Reports Amazing Profits
Empire Online, the Israeli online casino firm, published its 2006 first quarter results, and although being purchased by Party Gaming caused a slight decrease in revenues, the online casino firm shows a remarkable bank balance with $259 million. Overall revenues have tripled their way to $15.3 million, but the online casino firm reports that revenues from online poker have decreased sharply with a 60 percent downfall. This drastic change is due to Party Gaming, one of the online casino industry leaders, buying Empire Online last February.
Empire Online is going to use its money for strategic acquisitions and plans to expand their hold over the online gambling industry. The online casino firm is aiming for non-U.S. markets and reports that it now has the financial strength to undertake the necessary actions. The company is currently looking for online casino related business opportunities to invest their $259 million in cash. It’s going to be an interesting few months for the online casino industry.
The online casino firms have become business giants that roll billions of dollars. They are constantly looking to expand and it seems that the U.S market has become too small for them. Europe and the Far East are the new objectives for the online casino firms, and it’s likely that Empire Online will invest in those markets soon.