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Euro Poker News: Boss Media Profits Rise But Poker Falls

BY: Brendan Murray

PUBLISHED: Thursday Aug 16, 2007 (about 1 year ago)

Scandinavian Gaming Company Announces Half Yearly Results; Royalties from Poker Down

Boss Media, the Swedish publicly quoted gaming software provider, yesterday announced its results for the six months to June 30, 2007. Sales increased by 5 percent to SEK 161.9 million (€17.9 million) from the same period in 2006 while operating profit amounted to SEK 27.5 million (€2.94 million), up from SEK 26.8 million in the first six months of 2006.

However, royalty revenues decreased by 7 percent to SEK 115.8 million (€12.4 million), aided by a drop in poker royalty revenue to SEK 55.5 million (€5.9 million) from SEK 60 million one year earlier.

Boss Media's poker clients include CelebPoker, Virgin Poker, Svenska Spel, and Sportingbet.

During the first six months of 2007, the company was engaged in several new partnerships, including St Minver Ltd. (Gibraltar). Boss Media announced at the end of April that the leading Internet player Yahoo! UK had joined in Boss Media's and St Minver's partner-based poker network, International Poker Network. The new service that Yahoo! UK offers visitors uses a web-based product that does not require downloading.

At the beginning of May, Boss Media signed a contract with Ålands Penningautomatförening (PAF) for delivery of a poker system for the Internet. PAF operates cash games on Åland, on board ships, and on the Internet. The poker product is linked to Boss Media's partner-based poker network. The poker system was taken into operation in May.