Online Casino Software Technology Provider Revenues Up
Turnkey online casino software provider of gambling technology, Chartwell Technology, has released its financial figures for the year end. The online casino software provider is seeing strong numbers in the fourth quarter and year end results.
Booming business is what it is all about in the online casino arena. It seems that anything and everything to do with the online casino technology industry is hot stuff. This positive financial flow is being felt in all sectors of the online casinos industry. Not only are online casino stocks soaring, but also companies associated with the online casinos, such as software providers, are reporting on record sales and profit figures in their year end reports.
Chartwell Technology, one such online casino software provider, has issued a statement about its financial results for the fourth quarter of 2005, and the year end results. The online casino software provider reported that its total revenue increased 46% and its income from operations increased 77%. The astounding results are attributed to the boom in the online casino industry as well as many new online casinos on the market in 2004/5.
Some of the financial highlights of the online casino software provider includes revenue of $17.8 million compared to $12.2 million in 2004 and software license fees $16.4 million versus $11.3 million in 2004. The CEO of Chartwell said that increased investments, improved product development and the acquisition of some new companies have ensured the corporation’s growth and they will continue to provide top of the range technology for the online casino industry.