Sweden's Boss Media Posts 2007 Financial ResultsSales and Royalty Revenues Slightly Down But Future Looks Bright |
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Boss Media, the publicly quoted Swedish gaming developer, has announced net profits of SEK 44.3 million (approximately €4.7 million) for the year to Dec. 31, 2007. This was down from SEK 64.4 in 2006.
Sales also fell to SEK 312.3 from SEK 320.1, and royalty revenues were down to SEK 232.9 from SEK 244.9 in the same period.
The company was happy with its performance, saying, “Royalty revenues developed well during the fourth quarter, with healthy growth generated in primarily poker and Interactive Gaming Machines. Compared with the preceding quarter, royalty revenues rose by 18 percent during the fourth quarter to SEK 63.5 million. This means that the revenues lost during the early part of the year, due to the renegotiation of agreements and legal changes, were recouped. Royalty revenues during the fourth quarter of 2007 were about 4 percent higher than in the corresponding quarter of the preceding year. The IPN poker network is capturing market shares in a growing market.”
Boss Media estimates that the Internet gaming market will grow by 15-20 percent in 2008, and the company said it expects to double its sales by 2010.
The company is supplying Austrian Lotteries and Casinos Austria with its poker platform in the first quarter of 2008.
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