November 16th, 2010
US have witnessed a major downturn in its economy over the past few years which have affected every business in some way or the other.The gambling and casino industry were also unable to evade from the list.
The game providers and developers were the one who have suffered the worst from the recession.
The Stockholm, Sweden based gaming software supplier, Entraction Holding AB had reported their third quarters numbers, in a word, can be termed as dismal.
The third quarters of 2010 witnessed the Entraction Holding making a steep loss of 109% in its gross earnings which was coupled along with a 22% drop in sales. It was also a record deficit of $221,973 before tax, interest, amortization and depreciation. The Euro has also contributed to the downfall in the Quarterly earnings. Patron losses are anticipated to be $1.4 million dollars.
Peter Astrom, the Chief Executive Officer of Entraction commented “Experience tells us that the third quarter is relatively tough and poker has also shown lower growth than in previous years.”
The game providers and developers were the one who have suffered the worst from the recession.The Stockholm, Sweden based gaming software supplier, Entraction Holding AB had reported their third quarters numbers, in a word, can be termed as dismal.
The third quarters of 2010 witnessed the Entraction Holding making a steep loss of 109% in its gross earnings which was coupled along with a 22% drop in sales. It was also a record deficit of $221,973 before tax, interest, amortization and depreciation. The Euro has also contributed to the downfall in the Quarterly earnings. Patron losses are anticipated to be $1.4 million dollars.
Peter Astrom, the Chief Executive Officer of Entraction commented “Experience tells us that the third quarter is relatively tough and poker has also shown lower growth than in previous years.”
1. danielle jacobs says:
November 17th, 2010 at 06:42 pm
How does this happen? Any news articles wherein I can read more details about this shocking decrease? Thanks a lot.
November 17th, 2010 at 06:42 pm
How does this happen? Any news articles wherein I can read more details about this shocking decrease? Thanks a lot.
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