Question Mark Over Future of Lasseters - 09-04-08

September 4 - The Australian  based gambling company, Lasseters Corporation is eyeing its latest financial results with concern, and considering its next moves as it struggles in every section of the industry in which it has a foothold.

Financial results for the year that ended June 30th, show that Lasseters produced an operating loss of over AUD$15 million, with a decline in revenues in almost every aspect of its business in all geographical locations.

Lasseters' largest market is Europe, making up 40% of the total, while Australasia and North America making up around 25% each.

Since the Unlawful Internet Gambling Enforcement Act was passed in the United States two years ago, Lasseters was forced out of a large part of the market and part of its poor financial figures were put down to the fact that the company needed to invest millions in trying to recreate its North American sports betting success on European soil.

The company said that it was still struggling to reach the right number of players in order to get its sports betting operation off the ground.

In addition, Lasseters said that its attempts to establish itself in other markets such as the online casino industry was also met with poor results, particularly because the company could not manage to launch a significant number of new games on a regular basis.

Lasseters lost only AUD$6.37 million last year, less than half of this year's AUD$15.5 million. These figures are worrying to the company as it considers its next moves.

One of the recovery plans is to combine all Lasseters' products onto one gambling platform in order to streamline operations and create a stage for the cross-promotion of products.

Submit This Article To Your Social Network
Furl	Simpy	Y! MyWeb	OnlyWire
Del.icio.us	Digg	Google	Spurl
StumbleUpon	Redit	Technocrati