Canadian Online Casino Company Shows Mixed Results
The online casino industry keeps growing all the time, with more players registering at online casino sites, and more companies join the online casinos community. The Canadian online gambling firm FUNTech has published its first quarter revenue numbers with mixed results. The online casino company shows significant increase with revenues at 174 percent compared to 2005, but the company shows an overall loss.
Like many other online casino groups, FUNTech is currently expanding their businesses, and that costs money. Even though revenues are way up, the online gambling company has spent considerable amount of money on its expansion plans. The online casino group’s share price has dropped three quarter of a percent following FUNTech’s revenue results publication, and now people at the online casino company are worried that investors will have cold feet. FUNTech must prove to investors that its plans of expansion will translate into cash soon enough. It’s funny to see that a company that shows a 174 percent improvement in revenues has to confront investors. The online casino industry is truly a unique one.
The online casino industry is a multi-billion dollars industry, and top groups, like FUNTech, are expected to show remarkable results all the time. When things are not as planed, usually investors from outside of the online casino industry are the first to bail. Hopefully, FUNTech’s expansion plans will prove to be successful and the company will show better overall results at the end of the second quarter.