Contagious Gaming, developer of software solutions for the lottery and gaming markets, has reported significant year-on-year financial growth during the three months through to September 30 ahead of the commencement of a partnership with UK newspaper publisher Trinity Mirror.
Revenue for the third quarter amounted to $294,063 (€236,426), which is up from just $79,408 in the same period last year.
Adjusted earnings before interest, tax, depreciation and amortisation improved from a loss of $164,269 in the third quarter of 2013 to a smaller loss of $24,562 this year.
Elsewhere, Contagious Gaming’s total assets increased from $1.1 million last year to just under $16 million in the latest quarter while cash jumped from just $16,806 to $4.3 million.
The improved figures come ahead of the launch of in-play pari-mutuel sports betting platform Goal Time with Trinity Mirror Shared Services, a subsidiary of Trinity Mirror.
Contagious Gaming has confirmed that it hopes to launch Goal Time later this month and has anticipated that the first event to be covered by the new service will be the clash between Arsenal and Liverpool in the English Premier League football competition.
In addition to a widespread marketing campaign to promote the new service, Contagious Gaming has made major steps in developing a mobile application to complement the Goal Time web browser offering.
Peter Glancy, chief executive and director of Contagious Gaming, said: “We are pleased to release the first interim financial results following our successful go-public transaction.
“We are also excited that all the hard work of our team can be seen with the official launch of our Goal Time platform with Trinity Mirror being set for late December of this year.
“The official launch of Goal Time with Trinity Mirror is a significant milestone for the company, being the first commercial roll-out of our live in-play pari-mutuel sports betting platform.
source : www.igamingbusiness.com
